Hyderabad: The 1,700 acres of land in the capital regoin will be allotted on freehold basis, but the ownership rights will be with the CRDA.
The consortium will develop the land and bring national and international companies. If any company wants to allot land on sale basis, the CRDA will register it in the name of that company.
The revenue earned though investments and sale of land will be distributed between Singapore and AP in the ratio of 58:42. A senior official of the CRDA said that the consortium will not have any right on the land allotted to the joint venture company. He said that the consortium would appoint a marketing consultant to attract companies to invest in Amaravati.
The state government has decided to constitute a committee to study the Swiss Challenge proposals, submitted by the consortium, and take a decision. Officials who do not want to take a risk with the controversial Swiss Challenge method have suggested appointing a committee with a group of ministers.
The government has appointed a high-powered committee with ministers and officials. After the first meeting of the committee, Mr Ramakrishnudu suggested appointing an official panel to take a decision on the Swiss Challenge mode for the Amaravati development partner.
Some officials brought this to the notice of AP chief secretary S.P. Tucker.
According to sources, Mr Tucker said the final decision would be taken by the Cabinet and told the officials that he would give his opinion in the Cabinet when the issue came up for discussion.
He said that the decision should be taken by the ministers and not by the officials and there was no need to appoint an official committee on this issue.
