Announcement

Collapse
No announcement yet.

Real Estate Trends in Vishakhapatnam

Collapse
This is a sticky topic.
X
X
Collapse

Real Estate Trends in Vishakhapatnam

Last updated: 2 weeks ago
319 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Real Estate Trends in Vishakhapatnam

    Visakhapatnam port trust set to lease out land for real estate

    The port, which opened for business in 1933, has about 100 acres of land in several prime areas of the city, including Saligramapuram.Shaukat Mohammed | TNN | February 21, 2019, 15:00 IST

    File photo

    VISAKHAPATNAM: The port of Visakhapatnam is waiting for approval from the Greater Visakhapatnam Municipal Corporation (GVMC) to lease some of the land it owns here for commercial real-estate development, Visakhapatnam Port Trustdeputy chairman P L Haranadh said.

    “We are hoping to get the approval soon, and plan to develop it into commercial real-estate under the Public-Private Partnership (PPP) model,” Haranadh told TOI. The port, which opened for business in 1933, has about 100 acres of land in several prime areas of the city, including Saligramapuram.

    VPT had taken a decision in late 2017 to lease the surplus land. The decision was based on the recommendations of a Vadodara, Gujarat-based land valuation company, which the port had engaged to evaluate the surplus land available with it.

    The report had determined that VPT had not utilized 50% of the 7,618 acres of land controlled by the port trust in and around the city. It had also highlighted the availability of the 100 acres of land, which could be used for commercial development.

    The report said that VPT, one of the 12 ‘major’ ports controlled by the ministry of shipping, had leased out 3,612 acres of land to industrial use, while another 1,518 acres is being used for infrastructure like a railroad, docks, utilities and buildings. Another 912 acres of land included hills, vegetation and water bodies.

    Finally, a total extent of 1,576 acres of land was vacant, including land in Lankelapalem and Mulakuddu villages. Lankelapalem is about 40 km from the port, on the road to Anakapalle, while Mulakuddu village is near Bheemili, on the coastal road.

    VPT also owns prime plots of land in the city itself, including about 7 acres of under-utilized land in Harbour Park, which houses top officials of the port trust, about 10 acres in Malkapuram, and 62 acres in Kailasapuram.

    Under the PPP model, VPT will be leasing the land to companies, which offer the highest lease fees. The land could be used to build office blocks, or shopping complexes.










    https://realty.economictimes.indiati...state/68091465
    Please read IREF rules | FAQ's

    Comment


    • Re : Real Estate Trends in Vishakhapatnam

      Interest waiver on property tax to affect Visakhapatnam civic body's coffers

      In fact, the GVMC has to adjust the interest, if already paid by taxpayers on arrears and on current year’s demand during this financial year, towards future property tax payments.Umamaheswara Rao | TNN | March 03, 2019, 15:15 IST




      VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) may suffer a substantial loss in revenue due to the state government’s recent order to waive interest on arrears and current year dues on property tax. The waiver will be applicable to those who pay the total arrears and the current year’s tax together before March 31.

      In fact, the GVMC has to adjust the interest, if already paid by taxpayers on arrears and on current year’s demand during this financial year, towards future property tax payments.

      Although this will benefit thousands of taxpayers, the GVMC will have to bear a cost of around Rs 25-Rs 30 crore.

      The total property tax arrears of the top 100 defaulters is around Rs 52 crore. Tax arrears of some of these institutions date back to 1995-96. While the tax arrears is Rs 22.3 crore, penalty on the arrears is also about Rs 22.3 crore.

      The property tax due in the current year for these institutions is estimated to be around Rs 7.4 crore, while the interest is around Rs 56 lakh. Waiving interest on tax arrears, for these institutions alone will be a big blow to the GVMC exchequer. The timing of the waiver, just before the general elections, has also become a point of discussion.

      Currently, the GVMC levies a simple interest of 2% on property tax for half a year, if the tax is not paid by the end of the first quarter (June) of a particular financial year. The same taxation formula is applicable to the second half and tax has to be paid by the end of December to avoid penalty.

      The civic body in recent times has been exploring various options to increase its revenue collection other than hiking tax in recent times. The corporation has set a target of collecting about Rs 300 crore in property tax, including vacant land tax, new assessments and revision of the tax structure for some households.

      GVMC deputy commissioner (revenue) R Somannarayana has asked the public to utilise the opportunity to clear all dues. “We have renewed our focus on strengthening tax collection system and made the collection process a continuous, rigorous exercise rather than limiting it to a few months. We expect that long-pending defaulters will come forward and clear their arrears in the next two weeks after the state government announced the waiver,” Somannarayana said.












      https://realty.economictimes.indiati...ffers/68242185
      Please read IREF rules | FAQ's

      Comment


      • Re : Real Estate Trends in Vishakhapatnam

        Providing adequate water should be part of election agenda, say residents

        V Kamalakara Rao | tnn | Mar 22, 2019, 09:21 IST


        Visakhapatnam: Drinking water supply has emerged as one of the prime problems troubling Visakhapatnam city. Almost all seven assembly segments under the Greater Visakhapatnam Municipal Corporation (GVMC) have not had proper water supply for decades.

        As per the 2011 census, nearly 44% of 4.5 lakh households come under the slum category. The inadequate supply of water should be part of the main election agenda for every contestant, irrespective of political party, said a source in the GVMC.

        The GVMC is supposed to supply 156 litres of water per head per day, but it is currently able to supply only 100-110 litres.

        Residents of Arilova, which falls under Visakhapatnam East assembly constituency, have been spending sleepless nights over the last few weeks due to the inadequate supply of water.

        A resident of Arilova, K Prabhakar said, “We have been facing water problems over decades. The politicians promised to solve the problem during the 2014 polls, but there has been no change till date. Our top demand is that of proper water supply.” Speaking to TOI, a senior GVMC official said that construction of permanent reservoirs with a capacity of 5 TMC is required in order to meet the city’s water requirements and maintain a supply of 156 litres of water per head per day against the current supply of only 100-110 litres.

        If 5 TMC of water is stored, the GVMC will be able to supply water to the public for a year without any trouble, officials added. The main water source for the reservoirs is the Polavaram project on the Godavari river.









        https://timesofindia.indiatimes.com/...w/68514486.cms

        Please read IREF rules | FAQ's

        Comment


        • Re : Real Estate Trends in Vishakhapatnam

          Visakhapatnam development body all set to sell last 20 row houses

          These 20 row houses were earlier leased out to the Andhra Pradesh Human Resource Development Institute (APHRDI) in 2017 to accommodate its trainees.Umamaheswara Rao | TNN | April 16, 2019, 17:00 IST




          VISAKHAPATNAM: The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has decided to sell the remaining 20 duplex houses in its Rushikonda row housing project.

          These 20 row houses were earlier leased out to the Andhra Pradesh Human Resource Development Institute (APHRDI) in 2017 to accommodate its trainees. These were recently surrendered the APHRDI found space in a nearby housing colony to accommodate their trainees. Priced at Rs 74 lakh each, the VMRDA estimates that the sale of these houses would fetch them about Rs 15 crore.

          The row housing project is nestled between two IT hills at Rushikonda. It was developed on an area of 6.78 acres close to the Visakhapatnam-Bheemili beach road as a gated community. VMRDA had provided various amenities such as solar fencing and water heaters for each housing units.

          Even though the VMRDA had developed the sea-facing row housing project many years ago, there were no takers. The VMRDA then rented out some villas to the APHRDI in 2017 to increase the prospects of the saleability as well as to earn some revenue. In the last two years, the VMRDA successfully sold all the remaining villas, other than those rented out to APHRDI.

          Speaking to TOI, VMRDA metropolitan commissioner P Basanth Kumar said that they sold 23 duplex houses in the last one and half years. “There has been many inquiries, even for the villas leased out to the APHRDI. So we have now decided to sale them as well and are inviting applications from the public. Six villas out of the 20 have already been sold out in the last few days,” said Basanth Kumar.

          The VMRDA built the duplex houses in four categories. The B-category houses, which are now on sale, were constructed each in an area of about 173 square yards. Each house gets plinth area of about 2,100 square feet. The price of Rs 74 lakh is said to be cheaper, considering the market price of each square yard of about Rs 40,000 in the vicinity.










          https://realty.economictimes.indiati...ouses/68904074

          Please read IREF rules | FAQ's

          Comment


          • Re : Real Estate Trends in Vishakhapatnam

            Groundwater levels dip in Visakhapatnam

            Venkatesh Bayya | TNN | Apr 20, 2019, 14:34 IST


            Visakhapatnam: The groundwater department in Visakhapatnam has confirmed that their has been an overall drop in groundwater levels with six mandals experiencing drounght-like situations.

            From 2017 onwards, the groundwater levels have dipped from 8.79 meters below ground level in May 2017 May to 9.89 meters by April 2019, with groundwater going down on an average by 1.10 meters across the district.

            Deputy director, groundwater department, KVS Sastry said, “The groundwater levels have been checked at 72 points, where there are piezometers, attached to the digital water record, across 43 mandals of the district. The reason for this drop in groundwater levels is a consistent deficit in rainfall over the last few years. The average annual rainfall in the district from June to May onwards has been 1200 mm, in 2018-2019, we have so far received only 866 mm, with a deficit of more than 25%. In 2017-2018 the deficit was barely 12% with the district reciving 1080 mm from June 2017 to May 2018 against the average of 1200 mm.”

            Sastry said that six mandals— Atchyutapuram, Padmanbham, Parawada, Munchingput, Visakhapatnam Urban and Anandapuram have been the worst affected.

            According to the department, over the last one year, Atchyutapuram has witnessed a steep fall in groundwater from 21 metres below ground level to 28 metres below ground level. Parawada too has witnessed a steep fall from 23 metres to 27 metres. However, the fall in groundwater level has been marginal in the other four mandals.

            When asked about the measures being taken to arrest the depleting groundwater levels, Sastry said, “We hope we have good summer showers followed by a healthy monsoon to improve the situation. However, in urban areas, water harvesting pits in all apartment complexes must be made compulsory, that is the only way out of the situation.”







            https://timesofindia.indiatimes.com/...w/68960790.cms
            Please read IREF rules | FAQ's

            Comment


            • Re : Real Estate Trends in Vishakhapatnam

              Now, GVMC plans to interconnect city’s water resources to overcome scarcity

              Umamaheswara Rao | tnn | Apr 21, 2019, 09:29 IST



              Visakhapatnam: The GVMC is planning to interconnect various water sources in the city to make better use of surplus water in Godavari and Yeleru reservoir.

              The GVMC will make the 85 MLD water plant in Aganampudi fully operational. It will lay an interconnection lane from Aganampudi to Raiwada and Thatipudi reservoirs through the existing network at NAD Junction that brings water from these two reservoirs to the town service reservoir.

              This will help the GVMC maintain the water at optimum levels in the two reservoirs.

              On the other hand, the Padmanabhapuram balancing reservoir in Vepagunta will be linked to Mudasarlova reservoir via Simhachalam. The Mudasarlova reservoir, which is located near the Health City in Arilova, dries up during summer. If it were to be connected to the Padmanabhapuram reservoir (water source —Yeleru), water levels in Mudasarlova can be maintained at a safe operating level throughout the year.

              Similar is the case of the proposed interconnection of Sundarayya Colony treatment plant (water source is Yeleru) to the Mindi treatment plant (water source is Meghadrigedda reservoir). GVMC commissioner M Hari Narayanan said these projects have been proposed assuming that Godavari and Yeleru will continue to have excessive water. “The GVMC had taken up repairs of old Raiwada pumping main with about Rs 1 crore last September. We can now draw 16 MGD more water from Yeleru left main canal. Out of the 16 MGD, 8 MGD is released to Raiwada water treatment plant. The balance 8 MGD is released into Meghadrigedda reservoir, which has increased the sustainability of the reservoir. Earlier, we used to draw only 70 MGD water from Yeleru canal. But now we are getting nearly 120 MGD, which represents a 70% increase,” said Hari Narayanan.

              He said GVMC was exploring ways to use excess water from Godavari in a better way. “This is the first year the GVMC has excess water. We would plan on augmenting the capacity of existing tanks and other water bodies in the city,” said Hari Narayanan.







              https://timesofindia.indiatimes.com/...w/68970947.cms

              Please read IREF rules | FAQ's

              Comment


              • Re : Real Estate Trends in Vishakhapatnam

                GVMC to create ward-wise waste management profiles


                TNN | Updated: Apr 25, 2019, 4:28 IST

                Towards Swachhata: GVMC is aiming at 100 % waste segregation


                Visakhapatnam: The Greater Visakhapatnam Municipal Corporation (GVMC) has decided to create ward-wise profiles of solid waste management to achieve 100 per cent waste segregation.

                GVMC is getting about 200 tonnes of segregated waste on a daily basis, which is being converted into compost.

                Zone-I officials gave a power point presentation on the ward-wise profiles pertaining to their zone at the commissionerate on Wednesday.

                GVMC commissioner M Hari Narayanan said that he would soon review the ward-wise profiles of all zones. “The public should be alerted before the pushcarts, garbage collecting vehicles and sanitary staff reach a particular micro pocket of the ward. This would help improve the waste collection capacity of the civic body,” said Hari Narayanan.

                Earlier, the GVMC had launched the two-bin segregation in 2017, but 50 per cent of the residents of the city are yet to adapt to the two bin culture.

                The GVMC also decided to complete the drainage desilting works before the onset of monsoon, which could otherwise prevent free flow of water. Additional commissioners GVVS Murthy, chief medical officer Dr A Hemanth, assistant medical officer Dr S Jayaram, zonal commissioner Durga Prasad and others were present.











                https://timesofindia.indiatimes.com/...w/69032023.cms
                Please read IREF rules | FAQ's

                Comment


                • Re : Real Estate Trends in Vishakhapatnam

                  Groundwater levels further dip in urban and rural Vizag

                  Venkatesh Bayya | TNN | Updated: May 23, 2019, 4:26 IST

                  Visakhapatnam: Groundwater levels continue to plummet in urban and rural areas in Visakhapatnam district, while the water table in the Agency areas has remained more or less static, with hardly any fall post April 2019.

                  The average rate of dip in groundwater levels has been 1.1 metre in the last two years. Sources in the groundwater department disclosed that over the last two years, groundwater levels have dipped by 2.2 metre, on average across the district.

                  “There are 73 groundwater checkpoints in the district and the latest results show that in the Agency tracts, the dip in the last one month has been marginal, while in some areas, there has been a correction of sorts. However, across the district, groundwater levels continue to plummet,” said KVS Sastry, deputy director, groundwater department.
                  Sources in the department pointed out that in the Agency areas, and especially in parts of Araku Valley, there has been a correction mainly on account of summer showers. In Araku Valley proper, groundwater levels actually rose from a low of 2.534 metre to 3.448 metres. They added that in other places in the Agency, the dip had been marginal. However, GK Veedhi and Dumrigada mandals registered a dip of over 1 metre.

                  Regarding the plains and urban areas in the district, Sastry said that groundwater levels have plummeted further in most places by at least one metre, and added that K Kotapadu and Anandapuram have been the worst affected. “The fall in the groundwater table continues unabated as of today. Unless we have a healthy monsoon, things could worsen by November 2019.”

                  Sastry added that water harvesting must be carried out on a war footing in all major affected areas of the district, rural as well as urban.












                  https://timesofindia.indiatimes.com/...w/69450439.cms

                  Please read IREF rules | FAQ's

                  Comment


                  • Re : Real Estate Trends in Vishakhapatnam

                    Will Vizag monorail deter the Metro?


                    V Kamalakara Rao | tnn | Updated: Jul 13, 2019, 5:29 IST


                    Visakhapatnam: The budget announcement of setting up a monorail in the city has raised questions about the future of the Vizag Metro Rail (VMR) project.

                    According to public transport experts, monorail projects are better suited to cities like Visakhapatnam because it has much lower traffic density when compared to cities like Hyderabad and Delhi. The estimated cost to build the monorail is around Rs 150 crore per km. Speaking to TOI, a senior railway official said, “monorails have had success in Gurgaon and Mumbai. If the government is not in a position to make huge investments, monorail will be agood option.”

                    However, a reliable source working in the metro rail project in Hyderabad said that according to the Metro Rail Policy, 2017, metro rail systems include monorail. Monorail has lower capacity and higher maintenance cost, according to the source. “If there is no revenue from passenger traffic, it might become difficult to handle,” the source added.

                    Managing director of Amaravati Metro Rail Corporation NP Ramakrishna Reddy, however, said, “I am not able to comment on the monorail project as I am yet to receive any official instruction. Moreover, the project is completely different from the previously proposed metro rail project.”

                    According to technical staffers of AMRC, need for land in monorail is less compared to the metro rail project.

                    As per reports from studies on conducted in 2015, NAD Junction, Maddilapalem and Hanumanthawaka Junction have more than 10,000 PPHPD (passengers per hour per direction). A city should necessarily have at least 15,000 PPHPD for a metro rail project. However, for a monorail project the PPHPD requirement in 5,000.







                    https://timesofindia.indiatimes.com/...w/70198377.cms
                    Please read IREF rules | FAQ's

                    Comment


                    • Re : Real Estate Trends in Vishakhapatnam

                      Vizianagaram civic body extends building penalisation scheme till August 31

                      The civic body has collected a sum of Rs 2.47 crores as regularisation fine since the scheme started in January 2019.Venkatesh Bayya | TNN | August 13, 2019, 12:00 IST

                      VISAKHAPATNAM: In a bid to promote construction regularisation, Vizianagaram Municipal Corporation authorities have extended the date for receiving applications under the building penalisation scheme till August 31.

                      The civic body has collected a sum of Rs 2.47 crores as regularisation fine since the scheme started in January 2019.

                      Sources in the VMC said that so far only 872 applications have been received while the actual number of unauthorised constructions (those without approval from the town planning wing) runs into the thousands.

                      According to Ch Madhusudan Rao, town planner, VMC, said that this is an opportunity for many people to get their constructions regularised.

                      “We are expecting more people to come forward and regularise their constructions. Of course only those applications where there is proper documentary evidence would be approved.” He added that the scheme is only for those who have erected constructions without approval between 1985- August 2018.

                      Sources in the corporation said that so far 201 applications have been disposed of under the regularisation scheme, while another 570 applicants have received messages concerning issues with their applications, and another 216 are yet to receive information.

                      The drive has been intensified keeping in view the fact that Vizianagarammunicipality was recently elevated to a corporation and unless the regularisation process is taken up, project-based funds due to the corporation would not be released.

                      Officials said that the number of new constructions being taken up in the district headquarters ran into the hundreds every year and added that many people are ignorant of the norms under the AP Development Permission Norms and Systems.

                      They further added that they have set up billboards at city junctions, informing people about the extended date raising aware of the norms.











                      https://realty.economictimes.indiati...st-31/70651875

                      Please read IREF rules | FAQ's

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X