Rail Land Development Authority (RLDA), a statutory authority of Indian Railways, has invited bids forΒ Mixed Development of Railway Land at Visakhapatnam (AP) under the Waltair Division of East Coast Railway.
The Mixed development of approximatelyΒ 0.45 Acres of Railway LandΒ consists of 80% residential and 20% commercial retail. It is situated near Kendriya Vidyalaya School, Tatichetlapalem, Visakhapatnam.Β The approximate Land Area is 1833 Sqm, and the offered BUA is 4452 Sqm, consisting of 80% Residential i.e. 3561.60 Sqm & 20% Commercial Retail i.e. 890.40 Sqm. The land parcel will be leased forΒ 99 yearsΒ and has a reserve price of Rs. 10.90 crore.
| Land Parcel Snapshot | |
| Site Description | Mixed Development of Railway Land (80% residential and 20% commercial retail) at Visakhapatnam (AP) |
| Land Area | 1833 Sqm |
| Offered BUA | 4452 Sqm |
| Reserve Price (Rupees) | 10.90 Cr |
| Last date of submission of e-bid | 30.10.2024 upto 15:00 hrs. |
Connectivity
Β· The site is a clear piece of land with an earmarked compound wall free from encumbrances. It is located in the core city area. The frontage of the site is approximately 64 Metres.
Β· The site is bordered to the north by Vera Tower, to the east by Railway Quarters, to the south by an 80-foot-wide road in Kancharapalem, and to the west by a 20-foot-wide secondary road.
Site Potential
Β· The subject site is strategically located in the Central Business District (CBD) area, offering excellent connectivity to the major hubs of the city via Akkayyapalem 80 Feet Road, a key arterial road leading to significant infrastructure landmarks.
Β· Its prime location in the heart of the city ensures high visibility, making it ideal for commercial development. Additionally, the surrounding neighbourhood has limited availability of vacant land parcels, further enhancing its attractiveness for development.
Β· The site holds substantial development potential, especially with the upcoming Kommadi to Steel Plant metro line (via NAD and Gajuwaka) along NH-16, which will greatly improve connectivity to other parts of the city.
Β· Visakhapatnam, also known as Vizag, is the largest city in Andhra Pradesh and a rapidly growing port city on Indiaβs eastern coast. The city has seen significant industrial growth, with major industries such as steel, petroleum refining, and fertilizers driving rapid urbanization and migration, creating a strong foundation for future development at the site.