Revidi, Vizag

NITI Aayog has submitted its report 'Developing Visakhapatnam Economic Region as a Global Economic Hub' under the Vizag growth hub initiative. The Greater Visakhapatnam Municipal Corporation (GVMC) is tasked with project development and implementation, and has floated a request for proposal to select a consultancy firm as the project monitoring unit.

Real estate developers in Visakhapatnam are reportedly hesitant to fully comply with the RERA Act due to its complex procedures and certain 'unrealistic' clauses. Issues include the difficulty in obtaining GVMC sanctions followed by RERA approval, the absence of a dedicated RERA office in the city, and clauses requiring a five-year guarantee for paint and electronic/electrical equipment.

The Andhra Pradesh government is accelerating efforts to make Visakhapatnam a slum-free city as part of the Visakhapatnam Economic Region (VER) initiative. This involves identifying slum areas within the GVMC jurisdiction and providing permanent housing. Infrastructure upgrades such as road construction, drain covering, and LED streetlight installation are underway in these areas.

The Capital Region Development Authority (CRDA) has approved a ₹7,380 crore loan from NABARD to accelerate core infrastructure development in Amaravati. This funding will support key institutional buildings, including the construction of Lok Bhavan (Governor's residence) for ₹169 crore and the Andhra Pradesh Judicial Academy for ₹165 crore.