Amaravati Project to Launch in December
By : MD Ilyas
Update: 2024-08-24 16:35 GMT
Vijayawada: Municipal administration and urban development minister Ponguru Narayana on Saturday indicated that construction work at the new capital Amaravati is likely to start from December 1.
Inaugurating the SOUTHCON 2024 of the Confederation of Real Estate Developers Association of India (CREDAI), along with union minister for heavy industries and steel Bhupathiraju Srinivasa Varma, Narayana said the current status of Amaravati is being studied by experts. This study will be completed in three months, following which construction of the new capital Amaravati will start.
The minister indicated to members of the CREDAI that construction of the new capital will cost Rs 60,000 crore. He disclosed that Chief Minister Nara Chandrababu Naidu is keen on completing the Amaravati capital project within four years.
“We are proceeding with our plans keeping this target,” Narayana said. He asked real estate developers to cooperate with the government and follow the stipulated norms. He promised that the government will ease the norms for layouts and construction of buildings.
He indicated that a new software is being designed to give all permits through a single window system.
The minister indicated to members of the CREDAI that construction of the new capital will cost Rs 60,000 crore. He disclosed that Chief Minister Nara Chandrababu Naidu is keen on completing the Amaravati capital project within four years.
“We are proceeding with our plans keeping this target,” Narayana said. He asked real estate developers to cooperate with the government and follow the stipulated norms. He promised that the government will ease the norms for layouts and construction of buildings.
He indicated that a new software is being designed to give all permits through a single window system.
CREDAI national president Boman Irani underlined that Andhra Pradesh is on the cusp of rapid growth and transformation under the visionary leadership of Chandrababu Naidu. He said SOUTHCON 2024 will provide valuable insights into transformation of Amaravati as a sustainable city.
“We would like the government to revise the costing of affordable housing to Rs 75 lakh from Rs 45 lakh. This will be the right price taking into account the inflation over the years. This will ensure that more homebuyers benefit under the schemes for affordable housing,” Irani said.
CREDAI national secretary G. Ram Reddy gave an account of the national office property market, saying Chennai and Hyderabad have a share of 14 per cent and 13 per cent in this market.
CREDAI Andhra Pradesh chairman Alla Siva Reddy said SOUTHCON 2024 in Andhra Pradesh has brought together developers to foster collaboration, innovation and sustainability.