Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag RAIL LAND DEVELOPMENT AUTHORITY A Statutory Authority under Ministry of Railway Government of India Project Information Memorandum (PIM) for Grant of lease for Commercial Development on approx. 1257 sq. m. of Vacant Railway land at Ambedkar Circle, Vishakhapatnam, Andhra Pradesh Rail Land Development Authority Near Safdarjung Railway Station Moti Bagh-1, New Delhi-110021 Project Information Memorandum Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag Disclaimer The information provided in this Project Information Memorandum (PIM) is solely for information and RLDA shall not be responsible for any inaccuracy in it. Each Bidder should conduct their own investigations and analysis, and should check the accuracy, reliability and completeness of the information in this PIM and wherever necessary obtain independent information from appropriate sources. RLDA, their employees or any of its agencies/consultants/advisors make no representation or warranty and shall incur no liability under any law, statute, rule or regulation as to the accuracy, reliability or completeness of the PIM. Project Information Memorandum Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag CONTENTS OF PIM The “Project Information Memorandum (PIM)” is being issued in reference to “RFP Notice No. RLDA/RFP/CD-1of 2012” for the Ambedkar Circle, Visakhapatnam site. This PIM document provides the applicants the information about the proposed commercial development of plot near Ambedkar circle in Vizag and enables them to make an assessment of the project. Project Information Memorandum 1 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag TABLE OF CONTENTS Chapter Particulars Page No. 1 Introduction 3 2 Site Features 4 2.1 Location and Area 4 2.2 Accessibility to the site 6 2.3 Existing Development at the Site 7 2.4 Infrastructure Availability 7 2.5 Site Potential 8 3 Demand Assessment 9 3.1 Visakhapatnam Real Estate Market 9 3.2 Primary Demand Survey 12 3.3 Conclusion 13 4 Development Control regulations 13 4.1 Existing Land Use 13 4.2 Major Building Control and Byelaws 14 5 Structure, Roles and Responsibility 15 5.1 Indicative Project Structure 15 5.2 Developer’s Responsibility 15 5.3 Responsibility of Railways 16 6 Land Title & Sub-Division 21 6.1 Land Title 21 6.2 Sub-Division 21 Project Information Memorandum 2 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag 1 INTRODUCTION The Indian Railways is desirous for commercial development of plot near Ambedkar circle in Vizag, which is presently lying unused and railway operations are not envisaged on this plot in the foreseeable future. The said objective is being carried out by RLDA, a statutory body of Indian Railways formed through an amendment to the Railway Act, 1989. By this amendment, the Railways are authorised to carry out commercial development of railway land. IL&FS Infrastructure Development Corporation Limited (IIDC) has been appointed by RLDA as project advisors for assisting them in carrying out an assessment of the real estate potential of plot near Ambedkar circle in Vizag and select a developer through an open, competitive bidding process. IIDC was involved in the site survey, assessment of on-site infrastructure, stakeholder interaction, discussions with development authorities and site analysis with respect to the macro and micro real estate market trends which led to identification of development options and product mix. Conceptual development plans were drawn up for suitable option based on the applicable development controls and guidelines of the local development authority. This PIM provides the site information, development controls and building guidelines. Applicants are advised to make an independent assessment of the project at their end, make site visits and carry out necessary investigations and due diligence and check the adequacy of the information given in the PIM. Project Information Memorandum 3 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag 2 SITE FEATURES 2.1 Location and Area The proposed site is located near Ambedkar Circle abutting the Old Jail Road. The site is located at the junction of major roads connecting the commercial hubs of Visakhapatnam – Dondaparthy, RTC Complex Asilmetta, Allipuram, Daba Gardens and Jagadamba Junction. The site is strategically located at distance of: 15 Km from Visakhapatnam Airport. 1 Km from Visakhapatnam Railway Station. 2 Km from the present Central Business District (CBD). i.e. RTC Complex, Asilmetta, Daba Gardens and Jagadamba Junction Location of Project Site RLDA Site Project Information Memorandum 4 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag Sketch Showing Site Surroundings The plot is located at junction of five major roads and facing Ambedkar Circle. The plot is rhombus shaped and the total area is nearly 1257 sq m. The soil type at the site is classified as coastal sandy soil. The existing development surrounding the site includes: LIC Building on north: LIC building is one of the first high-rise structures in Visakhapatnam. This 10 storied building is one of the landmarks in Visakhapatnam. Many ATM counters and small signature showrooms are present in ground floor of this building. Dabagarden Road connects Women’s College Vizag at south of the site. Old jail road runs along the east of the site. The Old Central Jail is located on it. This land has been unlocked by Govt. for commercial utilization. Govt. is reviewing the development options for this land. Project Information Memorandum 5 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag Diamond Park road runs along the west of the study site. Across the road lies East coast Railway Quarters. A view of the site’s surrounding are is shown in the sketch below: Sketch Showing Site Surroundings 2.2 Accessibility to the site Being located at the Ambedkar junction which is the intersection of five major roads of the city, the site has good accessibility and can be accessed from five major roads. These are as follows: 60’ wide North Jail Road connecting Dasapalla Hills, 60’ wide Old Jail Road connecting RTC Complex, 60’ wide LIC Road connecting Dwaraka Nagar, 60’ wide South Jail Road connecting Railway Station, and 60’ wide road towards Daba Gardens. Project Information Memorandum 6 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag 2.3 Existing Development at the Site The site is lying largely vacant apart from a small shed. However, these can be easily demolished for development at the site. There is a large banyan tree and a few small trees within the site as well as an old iron structure that appears to have been intended to support an overhead water tank that has not been constructed. There is also a structure supporting a hoarding towards the Ambedkar Circle. The site has a wall running around it with openings to provide access to the site. There is a level difference between the two sides of the site abutting the roads meeting at the Ambedkar Circle. There are a number of fruit stalls situated along the wall of the site towards the Ambedkar Circle. These are outside the site boundary and are essentially temporary structures placed on a common concrete platform running along the site’s boundary wall. 2.4 Infrastructure Availability Details of available infrastructure in the area wherein the site is given below: Water Supply: The site falls within GVMC area and has access to municipal water supply. GVMC’s underground water tank or town supply reservoir is located at just 350 m away from the site. Power Supply: East Power Distribution Company of A.P Ltd. (APEPDCL) manages electric supply in the area. Low-tension electricity poles are present along the roads by the site. The site as good access to power supply with 440 KVA transformer installed within LIC campus adjacent to the site. Sewerage: This area has underground sewerage and drainage network installed by GVMC. Solid Waste management: The municipal corporation disposes the solid waste in the area. Municipal solid waste bins are present in the area and collection is done at fortnightly basis. Educational Facilities: Many schools and colleges are present in nearby residential colonies within 3 Km radius of study site. The nearest institutional facility is Womens’ College Vizag right across the road. Other famous institutions are Vikas Boys College, Sri Krishna Vidya Mandir, MGM High School etc. Project Information Memorandum 7 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag Health care facilities: There are many small health care centers located in this area. Other than these, people for this area either go CARE Hospital and Apollo Hospital on Waltair Main Road which is hardly 3 Km from the study site. Recreational facilities: There are many entertainment facilities such as movie theatres and Restaurants present in vicinity of this area. Jagadamba theatre is one of the oldest and most popular movie destinations. Infrastructure mapping in catchment area 2.5 Site Potential Strength Site is located in proximity to the CBD area of Visakhapatnam Site is located at junction of major roads and has good frontage to increase the visibility Good connectivity from all parts of city through public transport Basic infrastructure viz. Power, Water, Sewage are well developed Site is located close to railways station and bus station Project Information Memorandum 8 Commercial Development of Vacant Land Plot Near Ambedkar Circle, Vizag Most of the commercial and retails developments are happening in the vicinity of the site Real estate perception in the area is very encouraging Opportunities Rapid urbanization creating need for commercial/retail inventory in the city Lack of land availability in the vicinity 3 DEMAND ASSESSMENT 3.1 Visakhapatnam Real Estate Market The city of Visakhapatnam is gaining significance on the real estate front and has emerged as one of the key Tier II cities in India.