VUDA To Visakhapatnam Urban Development Corporation Ltd. (VUDCL)
The Visakhapatnam Urban Development Authority (VUDA) will now be called ‘Visakhapatnam Urban Development Corporation Ltd’ (VUDCL) to take up mega/ multi-developmental projects in its jurisdiction in collaboration and partners of the mega projects.
Visakhapatnam Urban Development Authority was established in the year 1962. Prior to VUDA, the Town Planning Trust (TPT) has existed since 1962, to implement developmental activities in and around Visakhapatnam. The TPT was upgraded and Visakhapatnam Urban Development Authority was constituted on 17th June 1978.
VUDA under AP Urban Areas (Development) Act, 1975 with its jurisdiction extending over Visakhapatnam Municipal Corporation (VMC) and four municipal towns namely Vizianagaram, Bheemunipatnam, Gajuwaka and Anakapalli including 287 villages in 178 Gram Panchayats, comprising an area of 1721 square kilometres.
The VUDA has transformed itself as a registered company for financial feasibility and to play a key role in various special purpose vehicle (SPV) project development procedures to take up mega projects like Integrated mega IT Township at Madhurawada.
For this purpose, the VUDA had already registered its name with companies registrar office in Hyderabad and it also submitted a letter to the same office that it won’t have any objection on registration of a company in VUDA’s name.
Source Link- http://www.newindianexpress.com/.