Visakhapatnam: Vuda has focused on vacant lands available at various places in the city and is planning to earn revenue from them.
In a first of its kind proposal, Vuda had called tenders from the public sector oil companies to set up a petrol refilling station on 961-square yard land on the Beach Road, opposite Appu Ghar. After scrutinising the tenders and after an auction, Vuda had allotted the land to Indian Oil Corporation (IOC).
The land will be given on a 33-year lease. Vuda had set the minimum upset price of monthly licence of Rs 76,000 and upon that the highest bidder was allotted the land. IOC bagged the land allotment and will set up the petrol bunk. A resolution in this regard was put before the Vuda Board which met recently and it ratified the resolution.
The Vuda Board resolution reads, "Allotment of vacant plot in Sy.No.3/2 at Chinawaltair village, opposite Appu Ghar Sector-9 of MVP Colony on monthly lease basis through auction for a period of 33 years to set up petrol bunk allotted to Indian Oil Corporation Reg. Ratified."
On completion of every three years, there will be a hike of licence fee at Rs 7pc on monthly licence fee automatically. The bid as well as the EMD amount paid by the 2nd highest bidder was kept in abeyance till the first highest bidder paid the security deposit and till the acceptance of the bid of the first highest bidder was issued.
The highest bidder should pay the required security deposit amount by challan/ D.D. equivalent to 12 months licence fee. The licensee should execute an agreement immediately after payment of security deposit and take possession of the premises within 30 days from the date of proceedings.
