Vuda plans 6 one-stop-shop complexes

The Visakhapatnam Urban Development Authority (Vuda) is planning to set up six one-stop-shop complexes at an investment of Rs 12 crore in and around Visakhapatnam on a build-operate-transfer (BOT) basis.

"This concept is innovative as it is aimed at providing all household items and services under one roof. Vuda will provide sites in different localities to private builders, free of cost," D Varaprasad, vice-chairman of Vuda, told Business Standard.

The proposed one-stop-shop complexes will have cellar parking, modern health gym, departmental store, mini function hall, coffee shop, indoor games for children, souvenir shop, books and magazines shop, tailoring shop, beauty clinic, electronics and electrical shop, sweet/bakery shop, clinic/medical shop, information kiosks, travel agency, restaurant, ATM, dry cleaners, products catering to foot needs and fruits and vegetables shop.

"Vuda has identified sites at Seethammadhara (north extension), Pitapuram Colony, Sagarnagar, MVP Colony, Gajuwaka, Madhavahara, Simhapuri and Lawsons Bay Colony for the proposed complexes. Initially we will take up these one-stop-shop complexes in only six areas. Based on the response, we will extend it to other colonies as well," Varaprasad said.

While Vuda will provide 1,500 to 2,000 sq yards of area for the complexes, the private builders will have to construct around 15,000-20,000 sq ft of space with their own funds.

Later, Vuda and the private builders will share the rent for 20-30 years according to the BOT agreement. According to initial estimates, each complex is likely to cost between Rs 2 crore and Rs 2.5 crore.

"In March we will invite Expressions of Interest from the interested builders," Varaprasad said.

"We have been getting a good response from prominent investors to set up multiplex theatres around Vizag," he added. Vuda has recently called for EoIs to set up multiplex theatres at Gajuwaka, Anakapalli, Madhurawada and Vizainagaram on a BOT basis.