Spike in land rates hurts growth: CM Chandrababu Naidu
Residents told not to hike house rents overnight
Vijayawada: Chief Minister N. Chandrababu Naidu warned the people of the city that abnormal hikes in property values out of greed would not let the region develop. He called upon people to sacrifice if needed for the development of city in the future.
Speaking to reporters after inaugurating the AP Super Specialty Dental Hospital on Wednesday morning, Mr Naidu said that due to hefty prices people from this region invested in Hyder-abad and the same are now finding it difficult to shift here fearing high rents.
“The land prices at Singapore, Malaysia are less than the prices that are here and people from the state are able to invest there. Hiking house rents overnight would land us in troubles,” Mr Naidu said.
He further said if land is available at reasonable rates, various industries, educational institutions, commercial establishments, medical facilities would come up and create employment opportunities in the region.
Mr Naidu stressed the need for help by the Centre for the development of AP. He said issues like railway zone at Vizag, Polavaram project, and deficit budget problems must be solved by the Centre.
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