Andhra Pradesh government takes up new redevelopment model for slums, to be launched in Visakhapatnam
The Andhra Pradesh government approved a new slum redevelopment model to begin in Velampeta slum, Visakhapatnam, aiming to transform congested urban areas. The project will create 177 housing units through a high-rise residential complex, utilizing a Design, Build, Finance and Transfer (DBFT) approach that minimizes government funding. The initiative includes a Transferable Development Rights (TDR) mechanism to incentivize private bidders, promoting a market-driven upgrade of urban land while ensuring housing for existing residents.