Wed. Sep 20th, 2023
    VMRDA to Adopt HMDA Policies for Land Sales

    Visakhapatnam Metropolitan Region Development Authority (VMRDA) is considering implementing the policies of the Hyderabad Metropolitan Development Authority (HMDA) to enhance the sale value of its lands. VMRDA has recognized the need for effective marketing procedures, proper pricing of lands, and promotion of layouts for residential and commercial purposes. To study and adopt best practices in the realty business, a VMRDA team recently visited Hyderabad, focusing on HMDA’s successful land sales in undeveloped areas such as Kokapet.

    During their visit, the VMRDA team studied HMDA’s methods of selling land, including their marketing style and sample brochures. The team noted that while VMRDA does not have layouts as large as HMDA’s, they do have an 80-acre layout in Madhurawada near Marikavalasa, which has been divided into 14 sub-plots for sale through public e-auction. If the e-auction does not generate a good response, VMRDA plans to implement the HMDA model in this larger layout.

    The adoption of HMDA’s successful model will enable VMRDA to efficiently sell remaining layouts and commercial units. As the State government intends to shift its capital to Visakhapatnam this year, VMRDA expects to acquire a large chunk of land. Recognizing the importance of marketing and promotion in the real estate business, VMRDA is focusing on new strategies to attract customers.

    A special meeting with higher officials will be held soon to discuss these issues and plan for the implementation of the new HMDA model. By adopting the proven practices of HMDA, VMRDA aims to enhance the sale value of its lands and achieve better results in the real estate market.

    – The Hindu