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Vizag land for sale At Rs 107crore per acre


In what can be said as good news for the real estate business, the chief minister YS Jaganmohan Reddy government has put up one of the most valuable land parcels lying on the Beach Road in Vizag for sale. The state government now wants to sell the land parcel of 13.59 acres of land that was once allotted to Lulu Group on the beach road in an open auction conducted through the National Buildings Construction Corporation by fixing the reserve price of Rs 1452 crore.

To invest in Visakhapatnam/Vizag here is the best tailored options.

Apart from this land parcel, the NBCC has also listed 17 other smaller plots to be auctioned on April 22. The NBCC fixed the price of one acre on the beach road at approximately Rs 107 crore. The land parcel belongs to APIIC.NBCC, on behalf of Mission Build AP, had announced the outright sale of certain land parcels and assets owned by the State Government, available in Visakhapatnam district through e-auction.

To invest in Visakhapatnam/Vizag here is the best tailored options.

The State government headed by the YS Jagan Mohan Reddy had signed an MoU with NBCC in the recent past to auction public properties across the state to mop up finances under Mission Build AP to fund the welfare schemes. The 13.59 acres of land on the Vizag beach road is the most valuable and a jackpot for the state government and it is put for sale. The same parcel of land was allotted by the previous TDP government to UAE-based Lulu Group to develop a mall and a convention centre. After coming to power with a huge mandate, the YSRCP government felt that there were irregularities in the allotment and decided to cancel the allotment

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