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Private players to get share in capital Vijayawada buildings

DC CORRESPONDENT
Published Sep 7, 2014, 7:20 am IST
Updated Mar 31, 2019, 6:40 am IST
The government wants to hand the development over to private builders
Picture for representational purpose
 Picture for representational purpose
Hyderabad:The Andhra Pradesh government is planning to hand over the construction of various buildings in the new capital to contractors, and give them a share. It wants to construct the buildings at its earliest and expedite the process with not too much financial burden on the exchequer.
 
According to the new Land Acquisition Act 2014, the acquisition of land from individuals and farmers will be difficult. To avoid this problem the AP government has proposed to come to an agreement with farmers and other individuals.
 
For this the government does not need to spend money in getting the required land, as according to the agreement,  40 per cent of the land will be handed over to the farmers. Hence, the government has to spend some money only for the development of the land.
 
The government wants to hand the development over to  private builders while it will only provide power, water and other facilities. According to the McKinsey report, it has proposed to construct 49 buildings with 44 floors each in the new capital on both sides of Krishna river in Vijayawada.
 
Sources said,  many international companies are showing interest in construction of buildings. However, in that case, those companies will want 50 per cent share in the buildings. The contractor can sell his share of the buildings to private individuals or companies.
 
That means, of the 44 floors, 22 floors will go to the government and 22 floors will go to the contractor. In the same building government and private business centres will come up. To avoid this, the government plans to allot half of the total number of buildings entirely to those private builders so that it can have exclusive buildings for government offices. 
...
Location: Andhra Pradesh


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