In August 2026, Visakhapatnam’s real estate market experienced strong growth driven by a massive ₹1.08 lakh crore AI data center approval, new urban master plan announcements, and an innovative local redevelopment pilot. Key Real Estate & Infrastructure Updates: Polipali AI Data Center: The Andhra Pradesh government approved a ₹1.08 lakh crore investment by Reliance Industries for a giga-scale AI data center spanning 855 acres in Polipali and Amanam. This project heavily boosts real estate demand in the Tagarapuvalasa and Bhogapuram airport corridors. VMRDA Master Plan: Urban Development Minister Narayana announced that the Visakhapatnam Metropolitan Region Development Authority (VMRDA) will draft a comprehensive new master plan for the city within four months. Authorities also expedited over 600 pending Transfer of Development Rights (TDR) bonds. Redevelopment Pilot: As reported by ET Realty, the state government launched an in-situ slum redevelopment pilot in Velampeta. The model introduces relaxed parking and setback norms to rejuvenate congested urban pockets without displacing residents. Land Monetization: The National Land Monetization Corporatio`n (NLMC) moved forward with plans to e-auction 459 non-core urban land plots owned by RINL (Visakhapatnam Steel Plant) across prime city locations, which will alter local land supply.