Sontyam, new hotspot

By SNV Sudhir

Visakhapatnam, June 29, 2014:  Sontyam, around 30kms away from the city, seems to have emerged as the latest hotspot for those who want to own a piece of land in only metropolis in Andhra Pradesh- Vizag.

A square yard was sold at minimum Rs 7,500 and maximum Rs 9,500 at Sontyam layout of the Vuda, which is far away from the city outskirts, during the two days auction held on Saturday and Sunday. Until now, Pendurthy, Madhurawada and few other places were considered as hotspot and the sites there were always in demand.

The demand for Sontyam land sites was so much that, Vuda had to postpone the auction of the plots in other layouts in different locations as many participated for Sontyam plots auction. Sontyam layout being on the road side on the proposed 6 lane highway and 7 kms from Ananadapuram, said to be factor that attracted possible buyers. Other factors like surrounded by hills full of greenery and having many educational institutions in the vicinity also added to the demand.

The auction was held to allot 244 plots in 13 layouts.  Among all the 13 layouts, Sontyam layout received immense response both in number of applications and also bidding for each plot in auction.

Of the 244 plots, 165 are in Sontyam.   “Intentional hype creators, if any, participated in the auction with a strategy of developing artificial boom in price will be booked under criminal case. Such participants will be charged under intentional mischief and cheating sections,” said Vuda vice chairman, Dr N Yuvaraj.

He was responding to objections raised by some applicants in the auction on some miscreants trying to create artificial hype of the area.  Yuvaraj said vigorous steps were taken to avoid all kinds of unwanted participants in the auction and to protect the interest of genuine buyers.

Location of plots inside the layout and away from the main road, vaastu defects and other factors influenced in balancing the price of certain plots auction on Sunday from Rs 6,000 to Rs 8,000 per square yard.

Total 120 plots in Sontyam layout were disposed through the auction on both days fetching revenue of Rs. 25crs crores to VUDA. Yuvaraj said major share of the revenue will be spent for developing infrastructure in the same layout.

Auction for plots in Cyber Valley, Madhurawada Government lands, Bheemunipatnam, Chinamushidiwada, Kanapaka Ayyanapeta, MVP Colony, Kapuluppada Chilukuri Joint Venture Layout, Kurmannapalem Town Center and Phase-V layouts, Kummaripalem and Adibhatla Nagar will be conducted on July 5 and 6 at Swarna Bharathi Indoor Stadium.

Auction for balance plots in Sontyam will also be conducted on next Sunday afternoon at the same venue. Applicants whose names are remaining with the database at the time of closing auction on June 29 will only be allowed to participate in the auction for balance plots in Sontyam layout, Yuvaraj said.