VIJAYAWADA: Non-Resident Telugus (NRTs) from Andhra origin are betting big on grand plans for new capital region Amaravati. Until now, 1,250 NRTs have enrolled to bag roughly 100 to 120 units of the NRT Icon Tower. This is even before actual bookings for space were opened.
Andhra Pradesh Non-Resident Telugus’ (APNRT) Society is coming up with a 33-floor building NRT Icon Tower, strategically located within Rayapudi village limits in Amaravati.
APNRT Icon Tower will have 11 lakhs premium office and residential space. Location of this building next to the proposed Central Park, close to the Krishna river, will also result in stunning all round views of Amaravati for the occupants.
This unique iconic structure will be 158 metres/33 floors high in the form of the letter ‘A’ to represent Amaravati, with a hanging globe in the centre, to represent worldwide presence of NRTs. It will have several features such as revolving restaurants, NRT Club, world-class auditorium, high-end classrooms with state-of-the-art audio visual equipment, sustainability features with water and energy conservation etc.
In addition to becoming a permanent fixture of Amaravati skyline, it would enable the establishment of around a hundred software companies, resulting in more than 5,000 direct and several thousand indirect much-needed jobs.
“We have applied to RERA and other government agencies to get necessary clearance. After we get the clearance, we will start the bookings for the space on Icon Tower. The response for enrolment is overwhelming. We are expecting to close the bookings within no time. It was opened due to the overwhelming response we received for enrolments,” APNRT president and AP Government adviser Ravi Vemuru told Deccan Chronicle.
The Icon will be built with an exo-skeleton weight-bearing structure, minimising the need for interior columns, resulting in an increase of usable office space by 6 per cent, in addition to aesthetic advantages.
Icon’s promoter APNRT Society is planning to raise the entire finance from NRTs, avoiding undue burden to the state exchequer. APNRT had bought five acres of land from the CRDA and is expected to spend up to Rs 500 crore to complete the construction.
APNRT is of the opinion that the investor will get an opportunity to park their funds into a real property in a sunrise city, with minimal risk for their investment. Apart from investing in an iconic structure, the property is guaranteed to get appreciation due to the involvement of the Government of Andhra Pradesh and AP NRT Society which are the promoters of the project.
