VIJAYAWADA: The State Government is exploring all possibilities to raise funds for expediting various development works in the Amaravati capital region. As part of it, the government has reportedly decided to lease out residential quarters built for Group-D employees.
Officials of the Andhra Pradesh Capital Region Development Authority (APCRDA) reportedly submitted a proposal regarding the same to Chief Minister YS Jagan Mohan Reddy, who gave his assent at a recent review meeting with the officials of the Municipal Administration and Urban Development department.
The move comes in the wake of the High Court order directing the Andhra Pradesh government to develop the capital region as per the master plan.
As per sources, a private university, which has its campus in the Amaravati region, has come forward to take on lease one of the employees’ quarters. This, according to officials, is likely to generate annual revenue of Rs 8 to Rs 10 crore. The CRDA would be leasing out one of the six towers.
The CRDA had proposed to construct six towers with 120 flats each. In 2019, the authority began construction of the 720 flats spread across 7.7 acres. Officials said 65 per cent of the works have been completed. “Steps are also being taken by the officials to lease out the remaining flats in the five towers,” sources said. When contacted by TNIE, CRDA Commissioner Vivek Yadav was not available for comment.
1 tower to rake in Rs 8 cr
An Amaravati-based private university has come forward to take on lease one of the quarters. This, officials said, would generate annual revenue of Rs 8 to Rs 10 crore.
720 flats on 7.7 acres
The CRDA had proposed to construct six towers with 120 flats each. Construction began in 2019. Officials said 65% of the works are completed