Vijayawada: The AP chambers have sought a downward revision of the plot rates in Mallavalli Industrial Park in Krishna district, so as to give a boost to the industrial sector.
A team of the chambers of commerce and industry federation led by its president Potluri Bhaskar Rao submitted a representation to district collector Raja Babu in this respect on Monday.
Bhaskar Rao said the industrial park near Hanuman Junction has great potential to emerge as a manufacturing hub and provid jobs to thousands of people in the area. The park is located close to Vijayawada with excellent road and rail connectivity. Many large industries like Mohan Spintex, Ashok Leyland and food processing units have set up their units in the park, he said.
“Unfortunately, however, several plots in the park are still vacant. Only 498 plots were allotted against 1,248 in the model industrial park while 59 plots were allotted against 85 in the mega food park and state food park.”
The chambers representatives said that initially, the price of land in the model industrial park was Rs 16 lakh per acre and the food park Rs 42 lakh per acre. “Currently, the prices of plots in the model industrial park and the state food park are quoted at Rs 89 lakhs per acre.”
“The steep increase in plot allotment rates from Rs 408 per sq yard to Rs 1,967 per sq yard is a deterrent to investors. Many plots are not occupied due to this reason,” they said and urged the collector, APIIC and the government to bring down the rates in order to attract more investors and boost industrialization in the district.
