Visakhapatnam Urban Development Authority to sell lands to generate revenue

Visakhapatnam: The Visakhapatnam Urban Development Authority (VUDA) is mulling to sell lands owned by them at various places in Vizag city limits to generate revenue to meet the expenditure for major projects such as flyover at NAD Junction and commercial complexes among others. VUDA has identified over 140 acres land at Yendada, Madhurawada, Kommadi and few other areas in the city.

The civic body has been facing a financial crunch and was not in a position to complete huge projects unless it could generate revenue through other sources. Though the VUDA has over 10,000 acres land around the city, it has been struggling to sell it due to technical reasons.

Sources said that VUDA has spent over Rs 55 crore for various works in the past few years including the International Fleet Review (IFR-2016), beautification of Visakhapatnam Airport, BRICS Summit, IT office at Seethammadhara, IIM-Visakhapatnam, MedTech Park, Petroleum University and others but is yet to be refunded by the government.

“If VUDA fails to generate revenue through selling lands, it wouldn't be in a position to complete projects. With the 140 acre land identified VUDA officials intend to generate at least Rs 1,200 crore revenue in the coming months,” an official said.

Saying that they are chalking out plans to overcome the financial crunch, VUDA vice-chairman P. Basanth Kumar said, “Our idea is to sell lands in the city where the demand for vacant lands is more. We are waiting for permission from revenue department to proceed.”