Rajeev Swagruha to invite EoIs soon for Vizag project

Rajeev Swagruha Corporation Limited (RSCL) will soon invite expressions of interest (EoIs) from construction companies across the country for its Rs 400-crore housing project at Visakhapatnam.

The state government has already allotted about 55 acres to RSCL at Yendada village in Survey No 20, about 10 km from the city. "The land allotment process was completed recently and now RSCL is planning to call EoIs," KV Ratnam, coordinator "� Vizag project, RSCL, told Business Standard.

RSCL would construct G+20 or G+24 height blocks with each block comprising 160 flats to 192 flats. About 5,000 flats would come up in the Yendada venture.

"We would construct different sizes of flats like 464 sft, 685 sft, 1,131 sft and 1,455 sft catering to different segments," he said. At the time of allotment, RSCL would collect 25 per cent of the flat cost from the allottees while banks would finance the remaining 75 per cent. The corporation is negotiating with a few nationalised banks in this regard.

The proposed project is expected to be completed by December 2009, he said.

A few months ago, RSCL had called for applications from public for allotment of flats with all amenities. Over 11,200 applications were received by RSCL.