With an aim to make Vizag as the functional capital of Andhra Pradesh, the YCP government is sanctioning multiple projects to the city. In a new development, the AP government has allotted 17 acres of land to Raheja Group and the real estate firm has planned to set up Inorbit mall in Vizag.
Regarding the same Raheja Groups chairman Neel Raheja has met AP CM YS Jagan and an MoU has been signed between the two parties. This shopping mall will come up in Saaligramapuram that falls in Vizag West constituency.
The port management has the control over the land and Raheja Group has led multiple discussions with port authorities for leasing out the land. Initially the port management had planned to establish a hospital in the same location but it could not materialize.
Raheja Group was successful in convincing the port management and also the AP government. As part of the MoU, Raheja Group has paid Rs 125 crore to the port while the lease agreement is valid for 30 years.
With the deal finalizing, Raheja Group is gearing up for the groundbreaking ceremony. In around 6 Lakh square feet this mall will host many national and international brands.
This post was last modified on 19 July 2023 2:48 pm
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