Latest news with #PranavGopal
Time of India
18-05-2025
- Business
- Time of India
Visakhapatnam: VMRDA eyes private investment for land development project
VISHAKHAPATNAM: In a first-of-its-kind initiative, the Visakhapatnam Metropolitan Region Development Authority ( VMRDA ) has decided to conduct roadshows in Hyderabad and Bengaluru on May 23 and 30, respectively. The objective is to attract private investors for the proposed public-private partnership (PPP) model development of nearly 88 acres of land owned by the authority in the Madhurawada area. VMRDA recently held a meeting with private developers from CREDAI and NAREDCO , during which it highlighted the advantages of the site. The land alone is valued at approximately Rs 500 crore. Madhurawada, which serves both as a premium residential area and an IT zone for Vizag city, has come into the limelight over the past two decades. The neighbourhood is home to an IT special economic zone. VMRDA chairperson MV Pranav Gopal and metropolitan commissioner KS Viswanathan said that, owing to initiatives by the Union govt to develop the beach corridor from Kharagpur in West Bengal to Visakhapatnam , and with a double-decker metro rail project in the pipeline, the region is poised for rapid growth. "The proposed land in Madhurawada is well-suited for the development of convention centres, hospitality, residential, commercial, and entertainment facilities. The site, located just 100 metres from a proposed metro station, is well-connected by major roads, lies only one kilometre from a data centre project coming up at Kapuluppada, and is in close proximity to the IT city and the upcoming Bhogapuram International Airport — all of which enhance its attractiveness," said Pranav Gopal and Viswanathan. They added that Visakhapatnam, which already holds a prominent position nationally, has a bright and promising future in terms of development. "As part of efforts to develop Visakhapatnam in line with the vision of chief minister Nara Chandrababu Naidu to transform Andhra Pradesh into a $2.4 trillion economy by 2047, there is enormous development potential in Vizag, and this project is a key step in realising that vision," the VMRDA chairperson and commissioner added.
Time of India
18-05-2025
- Business
- Time of India
Visakhapatnam Metropolitan Region Development Authority eyes private investment for land development project
1 2 3 Visakhapatnam: In a first-of-its-kind initiative, the Visakhapatnam Metropolitan Region Development Authority (VMRDA) has decided to conduct roadshows in Hyderabad and Bengaluru on May 23 and 30, respectively. The objective is to attract private investors for the proposed public-private partnership (PPP) model development of nearly 88 acres of land owned by the authority in the Madhurawada area. VMRDA recently held a meeting with private developers from CREDAI and NAREDCO, during which it highlighted the advantages of the site. The land alone is valued at approximately Rs 500 crore. Madhurawada, which serves both as a premium residential area and an IT zone for Vizag city, has come into the limelight over the past two decades. The neighbourhood is home to an IT special economic zone. VMRDA chairperson MV Pranav Gopal and metropolitan commissioner KS Viswanathan said that, owing to initiatives by the Union govt to develop the beach corridor from Kharagpur in West Bengal to Visakhapatnam, and with a double-decker metro rail project in the pipeline, the region is poised for rapid growth. "The proposed land in Madhurawada is well-suited for the development of convention centres, hospitality, residential, commercial, and entertainment facilities. The site, located just 100 metres from a proposed metro station, is well-connected by major roads, lies only one kilometre from a data centre project coming up at Kapuluppada, and is in close proximity to the IT city and the upcoming Bhogapuram International Airport — all of which enhance its attractiveness," said Pranav Gopal and Viswanathan. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tukarkan Bitcoin dan Ethereum - Tanpa Dompet Diperlukan! IC Markets MULAI SEKARANG Undo They added that Visakhapatnam, which already holds a prominent position nationally, has a bright and promising future in terms of development. "As part of efforts to develop Visakhapatnam in line with the vision of chief minister Nara Chandrababu Naidu to transform Andhra Pradesh into a $2.4 trillion economy by 2047, there is enormous development potential in Vizag, and this project is a key step in realising that vision," the VMRDA chairperson and commissioner added.
Time of India
12-05-2025
- Business
- Time of India
Andhra Pradesh government to develop greenfield semi ring road between Rambilli & Bhogapuram near Vizag
Visakhapatnam: Aimed at enhancing connectivity across Anakapalli, Visakhapatnam, and Vizianagaram districts, the Andhra Pradesh govt has decided to undertake an access-controlled, greenfield semi ring road project from Rambilli (where a naval alternate operating base is under development) in Anakapalli district to Bhogapuram in Vizianagaram Visakhapatnam Metropolitan Region Development Authority (VMRDA) has been entrusted with the task of appointing consultancy services to prepare a detailed project report (DPR) for this road initiative. Accordingly, the VMRDA has issued a request for proposal to select a technical consultant for DPR proposed route is expected to run west of the existing national highway, starting from Rambilli and passing through Kothavalasa and other regions in Vizianagaram district, ultimately culminating in Bhogapuram, where an international airport is currently under development. With a six-lane highway already operational between Anakapalli and Anandapuram, this new road is intended to complement existing infrastructure and improve regional transportation efficiency.A ring road project has long been a demand of several people's representatives of the erstwhile combined Visakhapatnam district, given the growing traffic needs. Even though the project does not directly connect to Vizag city, it will provide an alternative route for people living along the stretch from Rambilli to Bhogapuram, alleviating congestion. This will also spur economic development in the region, particularly on the Bhogapuram side of the proposed alignment of the to TOI, VMRDA chairperson Pranav Gopal said that the selected consultant will prepare a DPR outlining key aspects of the project, including estimated costs, financial viability, land requirements, alignment options, route length, and the areas to be covered. "The report will be submitted to the state govt, which will take the final call on the project. The approximate length of the road to be studied is 90 kilometres," he said,"A greenfield alignment may be pursued only if traffic projections indicate a need for future expansion beyond four lanes. If the greenfield option is chosen, the entire right of way will be acquired to accommodate up to an eight-lane main carriageway, including provisions for service roads. Initially, a four-lane carriageway with four-lane structures will be developed, with space reserved in the median for future expansion. Inhabited areas will include service roads with a minimum width of 10 meters, while ensuring maximum access control for the main highway. Access to towns, cities, and establishments along the existing national highway will be provided via spurs from the greenfield route," Pranav Gopal said."First, a feasibility study must be completed. Only after specific instructions from VMRDA, based on the outcome of the study, will the consultancy move forward with DPR preparation," added the VMRDA fund the semi ring road project, a value capture finance (VCF) strategy is likely to be adopted. The VCF model is expected to reduce reliance on traditional government funding and loans, while encourage private sector participation and development along the corridor. This may ultimately support long-term sustainability through a self-financing infrastructure model.
Time of India
08-05-2025
- Business
- Time of India
VMRDA plans to develop MIG appts
Visakhapatnam: In a bid to develop affordable apartment housing for people belonging in the middle-income segment, the Visakhapatnam Metropolitan Region Development Authority ( VMRDA ) is set to conduct an interest survey across the city. This marks the first such initiative by any urban local body in the state in recent govt schemes provide one cent of land in urban areas and financial aid for home construction to the homeless poor or financial assistance for those who already own land. However, there is currently no provision for middle- or higher-income groups (MIG/HIG). The VMRDA aims to tap into this state govt, in collaboration with various urban development authorities, is already in the process of developing MIG layouts. Lotteries have been conducted in multiple rounds for the sale of plots in these layouts. In the last two years, the VMRDA has developed several MIG layouts under the NTR Smart Township Layout scheme across Anakapalli, Vizianagaram, and Vizag districts. However, only plots have been sold to the public, with construction being the buyer's proposed middle-income apartment housing by the VMRDA targets those looking to buy a home at prices lower than market to TOI, VMRDA chairperson MV Pranav Gopal said that this initiative has been mooted to serve the MIG segment. "This will be a win-win situation for both the public and the VMRDA. While the public will receive quality-assured, constructed homes at subsidised prices, the project will also generate revenue for the VMRDA. From Madhurawada and Bheemili to Anakapalli, Vizianagaram and other areas, we have a vast land bank. The survey will assess various components, including an individual's income, occupation, expected price range, preferred location, expected amenities and desired plot size. The results will guide our next steps," said Pranav Gopal.
The Hindu
21-04-2025
- Politics
- The Hindu
Chief Minister likely to visit Visakhapatnam on April 30 to take part in Chandanotsavam of Simhachalam temple
Chief Minister Nara Chandrababu Naidu is likely to visit Visakhapatnam along with his wife Nara Bhuvaneswari and family members to have a special darshan of Lord Varaha Lakshmi Narasimha Swamy on the auspicious Chandanotsavam on April 30. He is coming to the city to offer silk robes to the deity on behalf of the State government, according to sources. During the city tour, the Chief Minister is likely to inaugurate some projects like an 11-storey multi-level car parking complex called `Deck' at Siripuram, a UH-3H helicopter museum at RK Beach, and a Ratan Tata Innovation Centre for IT companies on the Deck premises. Before this, the Chief Minister will visit Srikakulam district on April 26, where he will distribute financial assistance to the fishing communities under the Matsyakara Bharosa scheme, at Etcherla Assembly constituency. Speaking to The Hindu, a Cabinet rank (TDP) member said, 'The Chief Minister's visit to Srikakulam is almost confirmed, but we have not received any official communication about the CM's visit to Visakhapatnam as of Monday (April 21). However, we have information that the CM is coming to the city on April 30 for the Chandanotsavam, which is the main purpose of his city visit. On that day, he may formally inaugurate projects like the Deck and the helicopter museum. Otherwise, he may come to the city in the first week of May for the project inaugurations.' On the other hand, Visakhapatnam Metropolitan Region Development Authority (VMRDA) Chairman M.V. Pranav Gopal along with his officials on Monday (April 21) inspected the works of the project Deck. On the occasion, he directed his staff to complete any pending work of the Deck by April 26. The VMRDA also developed the UH-3H helicopter museum at a cost of about ₹4 crore including GST. The helicopter was decommissioned from the Indian Navy in 2024 June after 17 years of service. 'We are not clear about the Chief Minister's schedule, but we have told our staff to complete the pending works of our projects by April 26 and get ready for the inauguration whenever that happens,' said Mr. Pranav Gopal. It may be mentioned that the Deck project was finalised in December 2021 and the work began in January 2022. It was planned to be completed in 18 months from the date of signing the agreement with the contractor, but was delayed due to various reasons, including the 2024 elections. The total cost of the project was ₹87.5 crore including 18% GST. VMRDA has invested the lion's share (about ₹60 crore) of the cost of the project. Built on an area of 1.72 acres, the deck will have space commercial establishments like supermarkets and corporate companies. Five floors (1.90 lakh sq ft) will be reserved for parking 430 cars and 400 two-wheelers. Parking will be on three floors from the ground and two floors above. The remaining six floors (1.64 lakh sq ft) will be for commercial establishments. 'If all the parking spaces are occupied, the monthly revenue from vehicle parking will be ₹60 to ₹65 lakh,' a VMRDA official said.
