Middle income groups can dream of owning house

Visakhapatnam: The dream of middle-income groups to own a house is likely to get fulfilled as Visakhapatnam Metropolitan Region Development Authroity (VMRDA) slashes the price of the smart township layouts and make them more affordable. Initiated by the Andhra Pradesh government, the 'Jagananna Smart Township' scheme aims to fulfill the dream of the middle-income groups to own a house at below market price. As a part of the scheme, VMRDA is developing DTCP-approved MIG (middle income group) layouts endowed with all basic infrastructure.

Last April, the VMRDA developed MIG layouts in four villages of Anandapuram mandal and made the 'Jagananna Smart Township' scheme available to the public.

Applications were invited through the online web portal for the sale of 446 plots in the layout at Palavalasa survey numbers 56/2, 59/1P, 80/1P and 82/1 in Anandapuram mandal. According to the decision made by the State Level Committee (SLC), the layout price was fixed at Rs 18,000 per square yard earlier. But, the proposal did not make any headway as people did not show interest in buying them since the cost was close to the market price.

Even after six months, there was no positive response from the potential buyers. Following the prescribed guidelines given by the VMRDA, only 71 applications were received till November 30 with initial price payment of 10 percent of the plot price. Even though the application deadline was extended, the sale of the plots did not witness any encouraging sign.

As the applications for the scheme was not up to the expected level, the higher authorities had to reconsider the pricing. Finally, the VMRDA officials decided to bring down the cost. Efforts were also taken to further reduce the cost of per sq. yard from Rs 18,000 fixed earlier to Rs 14,500 per sq.yard in order to bring the scheme closer to the people. Sharing details of the revised pricing, VMRDA secretary Venu Gopal informed that the current price per square yard of Rs 14,500 is applicable to 446 plots in the layout. He mentioned that it's the best opportunity offered to the people as the VMRDA developed the layout near the national highway which is quite close to Visakhapatnam city.