New policy to encourage real estate companies to take up construction of housing and commercial spaces
The Andhra Pradesh State government is planning to bring a new policy to encourage real estate companies to take up construction of housing and commercial spaces in the capital city of Amaravati.
The government recommends to take suggestions from noted real estate developers across the country before framing the policy guidelines.
Chief Minister N. Chandrababu Naidu met representatives of real estate developers at the Secretariat yesterday.
Chief Minister’s Meet Up Excerpts
Inviting suggestions and ideas from them, the Chief Minister said, “This is a unique opportunity for you. We want to make Amaravati a beautifully planned city, with immense economic opportunities. We want to ensure a high level of happiness to its residents.”
“Amaravati has rich water resources. Cities such as Singapore and Amsterdam do not have such resources. Islands spread over 2,000 acres are in the Krishna. The government is constructing two new reservoirs to help the water tanks under CRDA jurisdiction brim with water. Underground cabling system is one of the specialities of Amaravati. Vijayawada and Amaravati will become twin cities in the near future. Amaravati will turn into a mega city if Guntur is also included,” the Chief Minister said.
“Each developer has to take up at least one project. Construction of iconic buildings will increase the image of the real estate companies, apart from bringing fame to Amaravati. The developers will never get such an opportunity if they miss it now,” Mr. Naidu said.
Stating that it was the TDP government that had changed the face of Hyderabad in the combined Andhra Pradesh by developing Cyberabad and outer ring road (ORR), he said the experience thus gained was of vast use in constructing the new capital.