The Rail Land Development Authority (RLDA) has issued an invitation for bids to lease a significant land parcel located at Kailash Puram along National Highway (NH)-16 in Visakhapatnam, Andhra Pradesh. This mixed-use development project is designed to allocate 60% of the land for residential purposes and 40% for commercial use.
The land in question spans 4.71 acres (19,061 sq m) and comes with a 99-year lease offer. The estimated reserve price for the plot is INR 170 crore. The total built-up area (BUA) available for development is approximately 91,403.31 sq m, providing ample space for diverse development opportunities.
Strategically positioned, the land is adjacent to the Andhra Pradesh Micro Irrigation Project District Office, enhancing its appeal for potential developers. Its proximity to established residential neighborhoods and educational institutions adds to its development potential.
Furthermore, the site benefits from excellent connectivity due to its location near the proposed Visakhapatnam Metro Rail Project’s Steel Plant Junction and the Kommadi Corridor on NH-16. This location promises superb access to various parts of the city, making it an attractive opportunity for creating a vibrant and well-connected community.
