On 22nd October PM Modi laid the foundation stone of Andhra Pradesh’s new capital city Amravati. CM Chandra Babu Naidu has taken up a task of building a world class city from ground up. The city will be spread over 54, 000 acres in the Guntur district and expected to be built over a period of 10 years. The master plan for the city has been drawn by the Singapore government agencies.
The project is getting coverage for the innovative land acquisition approach by the state government. Of the 54k acres, government owns 21k acres. Rest is owned by over 23k farmers in 29 villages. Government has come up with land pooling scheme as part of which farmers will get 50,000 rupees per acre per year for 10 years. They will also get 1250 sq yards of residential space and 200 sq yards of commercial space in Amravati for every acre they contribute.
International enterprise (IE) Singapore has signed MOU with Infrastructure corporation of AP and submitted master plans for capital region, capital city and seed development. Japan has also signed MOU to promote investments by Japanese companies. The city project is expected to cost more than $ 2 billion and projects will be executed under public private partnerships (PPP).
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The project is getting coverage for the innovative land acquisition approach by the state government. Of the 54k acres, government owns 21k acres. Rest is owned by over 23k farmers in 29 villages. Government has come up with land pooling scheme as part of which farmers will get 50,000 rupees per acre per year for 10 years. They will also get 1250 sq yards of residential space and 200 sq yards of commercial space in Amravati for every acre they contribute.
International enterprise (IE) Singapore has signed MOU with Infrastructure corporation of AP and submitted master plans for capital region, capital city and seed development. Japan has also signed MOU to promote investments by Japanese companies. The city project is expected to cost more than $ 2 billion and projects will be executed under public private partnerships (PPP).
Get best intraday tip and start making money like professionals.
