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Chandrababu Naidu to meet real estate developers today
THE HANS INDIA  |  June 13, 2018


The State government invited top real estate developers across the country for a meeting at the Secretariat at Velagapudi on Wednesday to apprise them of the progress made in Amaravati and discuss investment opportunities.


During the meeting, AP Capital Region Development Authority (APCRDA) will discuss investment opportunities across the key cities such as integrated business park, industrial park, integrated sports hub, river-front leisure resort and others.


Sources in the APCRDA said that leading private players such as DLF, My Home Group, Prestige, L&T Realty and others have confirmed their attendance to the developers’ conclave.


In a letter to the real estate companies, the government said capital Amaravati has been planned to be one of the top three happy cities and best-in-class global cities encompassing highest standards of livability and infrastructure with a thriving economic environment.


The government informed that it had achieved significant progress over the last three years such as land procurement, planning and design, construction and economic development compared to any other Greenfield cities globally.


“An estimated cost of Rs 51,000 crore will be spent in phase-1 of Amaravati Government Complex and other constructions, out of which more than 48% of the project value is already in execution phase. With respect to economic development, within a short span of three years, Amaravati attracted leading investments in education, healthcare and hospitality sectors,” the government explained.


It also said focus was being laid on further triggering economic activity and creating jobs in a sustainable manner. “To achieve this, developing an ecosystem with robust social infrastructure is critical. In this regard, the Chief Minister has decided to invite the real estate developers for a meeting on June 13 to update on Amaravati’s progress over the last three years,” an official of APCRDA said.


It would also be discussed at the meeting on how the government and real estate developers could work together to build a truly world class city.