VUDA Plot Auctions for Shontiyam and Kummaripalem held

Visakhapatnam, August 6, 2007

Highest bidding amount moves up to Rs. 9,250 per square yard

Visakhapatnam Urban Development Authority (VUDA) has conducted bidding for its 44 plots bidding - five HIG plots, eight MIG-A and 21 MIB-B plots at Sontyam and Kurmannapalem on Monday at the VUDA Childrens Theater. The auctioning process was participated by a large number of people from Visakhapatnam, mostly realtors and a few representatives of NRIs.

The lowest bidding registered was Rs. 4.650 per square yard while the highest bid touched Rs. 9,250 per square yard. The upset price is put at Rs. 2000 per square yard. Some plots were kept aside in Sontyam and Kurmannapalem layouts outside the purview of auctioning as per the procedures of VUDA for allotment of pre-fixed price by following the rules of reservation as per government rules.

The total extent of HIG plot is 555.55 square yards, MIG-A plot is 444.44 square yards and MIG-B at 300 square yards. The price fixation will be made at the VUDA board meeting at a later time according to VUDA sources. Auction for the remaining plots will be held on Wednesday.

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