The Visakhapatnam Metropolitan Region Development Authority (VMRDA) carried out an auction for the sale of 28 vacant plots in the city. The auction was held on February 9 in which 11 plots received bids that exceeded the reserve price, netting the VMRDA a total of Rs 11.13 crore.

According to VMRDA secretary T. Venugopal, a notification was issued for the sale of 28 plots, and it received a good response. One plot in the Kurmannapalem area was sold at Rs 65,300 per square yard, against its up-set price of Rs 35000. Another plot in the Kummaripalem layout received a bid of Rs 28,500 per square yard, which was higher than the base price of Rs 20,000.

He added that all 11 plots that went under the hammer received higher bids ranging from over 10% to 90% over their up-set and base prices. All the sold plots belonged to various categories like HIG, MIG, and LIC. The auction received an outstanding response as the plots are litigation-free.