VIJAYAWADA: With the real estate in the capital region making a gradual recovery, the AP Capital Region Development Authority (CRDA) has expedited the process of the proposed housing project in Amaravati. The body, as part of the project, will develop 1,000 housing units, besides commercial structures, and rope in a property consultant to assist in the end-to-end sale.
According to CRDA, the proposed housing project is identified as one of the priority projects in Amaravati, which will be developed on an immediate basis.
“Since the infrastructure necessary for the government to discharge its duties -- including administrative buildings, and housing for officials and public representatives -- is either in place or underway, we are now focusing on developing housing for people. The project will most likely take off in the second half of 2018,” said a senior official from CRDA.
The officials were yet to finalise details of the housing project and said they were currently preparing an assessment report basing on demand and market potential. However, the plan is to develop 1,000 units in various categories like apartments, group housing and independent flats. “The assessment report will help us plan and design the housing units. After the report is ready, we will take a call on things like the number of bedrooms per flat, the size and location of the project after the report is ready,” the official explained.
Meanwhile, the process of hiring a property consultant is also on.
“The consultant firm will help us in making end-to-end sale of the proposed project. From identifying the prospective buyers to helping CRDA in legal aspects while making the sale, the firm will play a key role. It will formulate strategies for the same,” another official added. The prices at which the houses are to be sold will be fixed by CRDA with the consultant’s assistance.
Amaravati development
About 1,000 housing units and few commercial spaces to be built on an immediate basis
Houses will be developed with 5-10-15 concept
Emergency facilities to be within five minutes reach, places of recreation can be reached in 10 minutes
The project is likely to be ready in two years
Meanwhile, the CRDA has invited request for proposal for hiring of a property consultant