Tag: visakhapatnam

IndustryLatest Stories

AP Government Provides 50% VLT Relief to Stimulate Construction

VIJAYAWADA: In a notable policy shift aimed at alleviating the financial burden on property owners while boosting construction activity, the state government has decided to implement a 50% discount on vacant land tax during the construction process. This change was made in accordance with recent amendments to the existing legislation approved by the state assembly. According to the updated provisions, property owners engaged in construction will now only need to pay half of the vacant land tax during the construction period, effective from the start of construction until the occupancy certificate is issued. Officials believe this move will encourage timely…

IndustryLatest Stories

AP government accelerates LRS clearances before April 23 deadline

Representative AI image VIJAYAWADA: As the deadline for the Layout Regularisation Scheme (LRS) approaches next week, the state government is increasing efforts to boost revenue by accelerating the processing of outstanding applications in urban local bodies. Municipal Administration and Urban Development Minister P. Narayana conducted a review with town planning officials and municipal commissioners via teleconference, urging them to immediately process all eligible applications. He emphasized that undue delays not only inconvenience applicants but also hamper the state’s revenue collection efforts. The minister stated that town planning officials and commissioners would be held accountable for any lapses in application processing.…

InfrastructureLatest Stories

GVMC Launches Citywide Slum Survey in Visakhapatnam

VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has initiated an extensive survey of 66 slums throughout the city to evaluate housing, infrastructure, and amenities. According to the survey results, slums that have reached a certain developmental threshold will be denotified, while others will be redeveloped through a public-private partnership (PPP) model. This initiative is part of a larger plan under NITI Aayog’s Vizag Growth Hub aimed at enhancing the Visakhapatnam Economic Region. Two slums—Velampeta and Indira Nagar—have already been earmarked for redevelopment under the PPP model, with tenders currently issued. The GVMC also intends to amend the Municipal Corporation Act…

Latest StoriesResidential

MoU to Provide Energy-Efficient Appliances to 500K PMAY Homes in AP

VISAKHAPATNAM: Marking a significant milestone in energy efficiency under the Pradhan Mantri Awas Yojana (PMAY), the Andhra Pradesh State Housing Corporation Limited (APSHCL) has partnered with EESL and AP SEEDCO to create a tripartite MoU aimed at providing energy-efficient, star-rated appliances to five lakh beneficiaries during the first phase. The MoU was initially signed at India Energy Week (IEW) 2026 in Goa and was formally exchanged on Monday in Naidupeta, attended by Andhra Pradesh Chief Minister N Chandrababu Naidu, Housing Minister K Parthasarathy, and Municipal and Urban Development Minister K Narayana. Senior officials, including Special Chief Secretary (Housing) Ajay Jain,…

Latest StoriesRegulatory

Visakhapatnam collects ₹620 crore in property tax for FY26

VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has successfully collected ₹620 crore in property and vacant land taxes for the fiscal year 2025-26, representing a significant increase of nearly 22% from the previous year’s collection of ₹510 crore. This growth can largely be attributed to the expansion of the tax base and concentrated efforts on assessing vacant land, resulting in an additional ₹110 crore compared to the previous year. Remarkably, April and December 2025 emerged as particularly strong months, adding an extra ₹65 crore compared to the same months in 2024. For instance, collections for April surged from ₹132.11 crore…

Latest StoriesRegulatory

Andhra Pradesh Cabinet Approves Amaravati Capital Resolution Draft

VIJAYAWADA: On Thursday, the Andhra Pradesh cabinet approved a draft resolution set to be presented in a special assembly session on Saturday concerning Amaravati, the state capital. This resolution seeks to urge the Union government to amend the Andhra Pradesh State Reorganisation Act (APSR) 2014 to designate Amaravati as the official capital. The proposed resolution aims to modify Section 5(2) of APSRA by substituting the phrase “there shall be a new capital for the state of Andhra Pradesh” with “the new capital for the state of Andhra Pradesh shall be Amaravati.” The amendment will also define Amaravati in the explanatory…

Latest StoriesRegulatory

Visakhapatnam’s property tax collects over ₹510 crore

VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has set a record in property tax collections, exceeding ₹510 crore for the fiscal year 2025-26, a full eight days before the accounts close. This outstrips last year’s collection of ₹500 crore, with officials optimistic about reaching ₹600 crore by March 31, thanks to a 50% interest waiver on outstanding dues provided by the state government. Of an additional ₹80 crore in demand, ₹50 crore has already been collected this year. Deputy Commissioner (Revenue) S Srinivasa Rao mentioned that the waiver will lessen the burden on taxpayers and enhance collections. “We expect to…

Latest StoriesResidential

Andhra Pradesh Offers 50% Waiver on Property Tax Dues

VIJAYAWADA: The state government announced on Tuesday a one-time 50% waiver on interest for accumulated property tax arrears for the financial year 2025-26 across all municipalities and municipal corporations. This waiver is accessible to taxpayers who pay 100% of the principal property tax dues, as well as the remaining 50% interest, in a single lump-sum payment by March 31. The government specified that this offer is time-limited and will not be extended. Additionally, any interest that has already been paid will not be refunded and can only be adjusted against future tax demands as per existing provisions. Property tax is…

InfrastructureLatest Stories

VMRDA Launches ‘Vizag Bay City’ Coastal Project in Visakhapatnam

Representative AI image VISAKHAPATNAM: Following NITI Aayog’s proposal for the development of ‘Vizag Bay City’ as a 40-sq-km integrated coastal hub, the Visakhapatnam Metropolitan Region Development Authority (VMRDA) is now moving forward with this initiative. The urban development agency has issued a request for proposals to find a consultant that will create an area development plan along with a catalytic project strategy. The NITI report outlines a vision to transform a 25-km stretch along the coastline between Kailasagiri and Bheemunipatnam into a lively, mixed-use waterfront city. Inspired by global models like Miami’s Bayshore Corridor and Dubai’s Jumeirah Beach, the Bay…

Latest StoriesRera

Andhra RERA Chief: Builders Must Register Projects Mandatorily

VISAKHAPATNAM: A Siva Reddy, the chairman of AP RERA, has mandated that all housing projects in the state covering an area of 500 square meters or more, or featuring more than eight apartments, must register with the AP RERA Authority. Reddy highlighted the construction sector’s significance as the second most vital economic sector after agriculture. He mentioned that awareness programs are being conducted statewide to educate both the public and builders about the RERA Act. “The Act aims to enhance the construction sector’s development while protecting and ensuring homebuyer welfare. Projects that fail to register with RERA will be subjected…