Latest news with #VisakhapatnamMetropolitanRegionDevelopmentAuthority
Time of India
27-05-2025
- Automotive
- Time of India
Visakhapatnam Metropolitan Region Development Authority's Deck to house Ratan Tata innovation hub's Vizag spoke
Visakhapatnam: VMRDA (Visakhapatnam Metropolitan Region Development Authority) has completed the construction of multi-level car parking facility, which has been named 'The Deck'. The urban development authority developed the property, designed to resemble a cruise ship, adjacent to its office at Siripuram Junction in the city. The facility boasts good views of the surroundings and features a configuration of three basement levels, a ground floor, seven additional floors, and a terrace, with a total built-up area of 3.76 lakh square feet. The structure offers both underground and overground parking, and can accommodate 440 cars and 250 bikes. As of now, it is believed to be the largest public parking space in Andhra Pradesh. Notably, the fifth floor of 'The Deck' will house the proposed Visakhapatnam spoke of Ratan Tata Innovation Hub (RTIH), which will be developed in Amaravati. The conceptualisation, design, and construction of interior decorative door works, along with electrical and IT networking systems for the RTIH Vizag spoke, are expected to be finalised shortly on this floor. According to the state govt's recent Innovation and Startup Policy (4.0) for 2024-29, RTIH in Amaravati will serve as the central hub, while five regional centres will be established in Rajahmundry, Vijayawada, Visakhapatnam, Tirupati, and Anantapur, functioning as spokes to extend the central hub's efforts. The hub-and-spoke model of institutional start-up support aims to facilitate the translation of best practices and innovative ideas into viable businesses. The model will operate through dual funding from corporate and govt sources, providing seed capital and covering operational expenditure. The state govt will facilitate a capital grant of up to Rs 250 crore for RTIH and Rs 100 crore for each spoke centre, based on performance, over the next five years. The RTIH and its regional hubs will spearhead initiatives to drive a culture of innovation and support startups throughout their evolution. Its spoke in Visakhapatnam is expected to operate from 'The Deck' till a permanent facility is constructed. M eanwhile, VMRDA is inviting applications for available space on the remaining floors. 'The Deck' building consists of 12 floors, and the urban development authority intends to license out five of them to interested applicants for use as retail, commercial, institutional, office, or restaurant spaces. Located in Siripuram, near RK Beach and other prominent city landmarks, 'The Deck' is an architecturally striking multi-level car parking and commercial complex, intended to enhance urban mobility and address parking challenges. The property is likely to be inaugurated by chief minister N Chandrababu Naidu soon. VMRDA has invested about Rs 85 crore in its construction.
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.
The Hindu
15-05-2025
- Business
- The Hindu
VMRDA invites sugggestions, objections for Master Plan 2041
Visakhapatnam The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has invited objections and or suggestions to be incorporated into the VMRDA Master Plan 2041. General public, stakeholders and government departments have been asked to submit their objections and suggestions between May 22 and June 21. The objections and or suggestions can be submitted through a web application, by post or in person addressing it to Metropolitan Commissioner, VMRDA Office, Siripuram, Visakhapatnam, according to a release here on Thursday.
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.
