VISHAKAPATNAM: The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has announced requests for proposals (RFPs) for the construction of apartment complexes in Midhilapuri and Vepagunta, as well as a 50-storey tower in Madhurawada. This marks VMRDA’s first initiative in residential housing projects in over a decade, as they have primarily focused on selling plots and land for government layouts in recent years.
According to VMRDA, the upcoming projects will be executed using a public-private partnership (PPP) model and are expected to be priced below current market rates, catering to the ‘middle income group’ housing segment in Midhilapuri and Vepagunta. The 50-storey tower is envisioned as an iconic residential building, featuring premium finishes and amenities, also to be developed on a PPP basis.
VMRDA Chairman Pranav Gopal stated, “While we have developed affordable housing projects in the past, there has been a gap recently. I aim to continue this tradition as the city grows rapidly and housing becomes increasingly unaffordable. These initiatives will help people realize their homeownership aspirations. Based on interest and results, we can plan further developments across the VMRDA region.”
The middle-income group (MIG) project will entail creating gated residential complexes on two prime sites: 2.78 acres at Midhilapuri (near Madhurawada) and 0.63 acres at Vepagunta (near Pendurthi). The project will be executed under a hybrid joint development model that encompasses design, finance, construction, and transfer, with a minimum saleable area of 3.56 lakh sq.ft at Midhilapuri and 62,000 sq.ft at Vepagunta. The estimated cost for the project is Rs 124 crore, not including design, supervision, pre-construction, or interest expenses.
The two projects are designed as gated apartment complexes for the middle-income group, featuring 2BHK, 2.5 BHK, and 3BHK flats with various amenities. The Midhilapuri development includes five blocks comprising a total of 264 flats. The Vepagunta project offers 45 flats of similar configurations.
Additionally, the iconic 50-storey residential tower is planned for approximately 4.07 acres near Madhurawada, providing around 16.5 lakh sq.ft of saleable area. This project will consist of six interconnected towers, each rising 50 stories, and will include 3BHK, 4BHK, and duplex apartments, along with a clubhouse and extensive amenities such as a swimming pool, lounge, party hall, gym, spa, and open seating areas. Other facilities will include a reception, waiting area, supermarket, cafeteria, meeting rooms, and guest accommodations.
