The State government is planning to bring a new policy to encourage real estate companies to take up construction of private housing and office spaces in the capital city of Amaravati.
The government proposes to take suggestions from noted real estate developers across the country before formulating the policy guidelines. The proposal will also be discussed in the Cabinet.
Chief Minister N. Chandrababu Naidu met representatives of real estate developers at the Secretariat on Wednesday.
‘Unique opportunity’
Inviting ideas and suggestions 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.
Stating that the real estate sector had immense opportunities in the capital city, Mr. Naidu said the top 10 developers had a role to play.
“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.
Hyderabad experience
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 immense use in constructing the new capital.
Noted architect Hafiz Contractor said Andhra Pradesh could draw attention of the world by constructing housing complexes.
Eco issues
Responding to it, Mr. Naidu said the government would have to take environmental issues into consideration before going ahead with such proposals. “A few forces will always be ready to create roadblocks in the development process under the garb of environment protection,” he said.
Mr. Naidu said the government would consider the suggestion of providing free office space to IT companies so as to generate jobs in Amaravati.