The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has released the upset price list for leasing 1,30,649 square feet of high-potential commercial property in the city, offering diverse opportunities for businesses across sectors like retail, IT, banking, and hospitality.

 

 

The space spans multiple floors, each designated for specific commercial uses, with competitive lease rates:

 Ground Floor (Retail/Commercial Use):

 

28,993 SFT at ₹80 per SFT

 Third Floor + Third Deck (Combined License: Commercial +

 

Restaurant/Lounge Bar):

40,608 SFT at ₹75 per SFT (Third Floor) and ₹45 per SFT (Third Deck)

  

Sixth & Seventh Floors (IT/ITES/Banking Use):

41,501 SFT at ₹70 per SFT

  

Terrace (Restaurant/Lounge Bar):

19,548 SFT at ₹40 per SFT

A key benefit is the inclusion of parking for 20 cars per 10,000 SFT at no additional cost, making it a highly attractive option for enterprises seeking central and well-connected business locations.

 

With a combined offering of modern infrastructure and strategic zoning, VMRDA’s latest commercial lease opportunity is expected to draw significant interest from retailers, IT/ITES companies, banks, and high-end restaurant chains.

 

The decision to treat the third floor and third deck as a combined license also provides added flexibility for hospitality ventures looking to operate integrated spaces such as lounges, cafes, or multi-cuisine restaurants.

 

This move aligns with VMRDA’s broader urban development vision aimed at fostering commercial growth, generating employment, and enhancing Visakhapatnam’s profile as a business hub on the East Coast.