The Hindu : Front Page : Bidders for high-rise zone finalised

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Sunday, Sep 23, 2007
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Bidders for high-rise zone finalised

G. V. Prasada Sarma

VISAKHAPATNAM: The Visakhapatnam Urban Development Authority has finalised bidders for its joint venture exclusive high-rise zone in three plots of five acres each at Paradesipalem. The techno business proposals were evaluated by a screening committee. While four firms were short-listed for the first plots three each were selected for the second and third.

The VUDA had called for Expression of Interest for public-private partnership for the zone in April.

Amenities

The super deluxe apartments will have amenities like swimming pool, club house, shopping arcade, gardens and lawns. APITCO Ltd., Hyderabad, the consultant for the project, finalised the successful bidders last month.

While a single firm -- Vinayagar Promoters and Builders -- successfully bid for Plot 1 and Plot 3, Sri Dattatreya Constructions and Services Pvt. Ltd. bagged the second plot. They will be lead developers for the projects. Each of the three projects costs Rs.89.2 crores. They should be completed in 30 months.

According to sources, the high-rise zone will comprise apartments between 36 m and 45 m height. Officials say the concept designs have been accepted but the final designs have to be approved by the VUDA Vice-Chairman and its board. The promoter has to get the approval of the Airports Authority, Fire Department and environmental clearance as well.

The VUDA will get a share of the built-up area. VUDA will decide the rate also, which officials say, will be competitive.

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