The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has announced plans to auction multiple bulk land parcels and vacant plots across Madhurawada and various developed layouts in Visakhapatnam and Vizianagaram districts.

This auction, currently open for applications, holds significance not only in assessing prevailing market sentiments but also in potentially influencing real estate prices in adjacent areas.

Scheduled for March, the auctions encompass a diverse range of properties.

Six bulk land parcels situated in the Madhurawada area will be put up for auction on March 6, with the upset price set at ₹67,500 per square yard.

Additionally, on March 7, VMRDA will auction 31 vacant plots located in Kapuluppada, Kurmannapalem, Peda Gantyada, Marripalem, among other areas. 

The upset prices for these plots vary according to locality, ranging from ₹23,100 per square yard in Kapuluppada to ₹55,000 per square yard in Marripalem.

Furthermore, auctions for plots in specific layouts such as Simhapuri layout and Kanapaka Ayyannapeta layout in Vizianagaram will also take place, with base prices fixed at ₹32,000 and ₹20,000 per square yard, respectively.

Subsequent auctions are scheduled for March 13 and March 14, featuring additional plots in KL Rao Nagar, Peda Gantyada, Rushikonda, Cyber Valley, Kurmannapalem, among others.

The VMRDA's initiative to auction these land parcels and plots not only presents opportunities for prospective buyers but also signifies a proactive approach in managing and optimizing land resources within the region.