Incentives for Major Tourism Projects in Amaravati and Araku Valley
This project is expected to generate around 600 jobs and is to be completed within 24 months.
Vijayawada: The AP government has approved significant incentives to attract private investment in tourism, approving proposals for various major projects under the state’s Tourism Policy 2024-2029.
These include luxury hotels in Amaravati and an eco-luxury resort in Araku Valley.
Amaravati Hotels: M/s Southern Globe Hotels & Resorts Ltd has been sanctioned incentives for developing a Rs 177 crore Courtyard by Marriott hotel at Amaravati, which was given incentives comprise reimbursement of 100 per cent net SGST for 10 years or until the fixed capital investment is recovered, a 10 per cent capital investment subsidy capped at Rs 10 crore, stamp duty exemption, industry-rate electricity and property tax benefits.
This project is expected to generate around 600 jobs and is to be completed within 24 months.
Daspalla Amaravati Hotels Pvt Ltd, planning a Rs 200 crore 4-star Daspalla hotel at Amaravati, has also received similar incentives, including SGST reimbursement, stamp duty benefits and electricity subsidies, with a projected employment of 400. The project timeline is set at 24 months.
Araku Eco-Luxury Resort: M/s VSK Hotels & Resorts LLP has been given incentives for developing a Rs 55.84 crore eco-resort in tribal Araku Valley. Incentives include 100 per cent SGST reimbursement, Rs 10 crore fixed capital subsidy in five installments, electricity duty reimbursement for five years and single window support. The project might generate 98 direct jobs and 100 indirect.
