The historical region of Amaravathi, chosen to be the capital city of the new Andhra Pradesh is changing its face within no time. After the bifurcation, AP Chief Minister N. Chandra Babu Naidu wanted to develop Amaravathi into a world class city and a huge metropolis near Visakhapatnam.
Amaravathi was the centre of the Telugu empire for over 1,800 years from the 2nd century BC to the 16th century AD. The new emerging capital is now attracting MNC’s to invest. Officials are working on linking the capitals separated by over two millennia.
Amaravathi Lands Getting Whooping Prices:
As of now, Each acre in AP Capital is valued at Rs 1.5 to 2 crore. An official who is monitoring the bidding process comments, ‘We never expected such a big offer. It’s a very good price’.
The conglomerate has offered to buy the land at a cost of Rs 4 crore per acre keeping prevailing market rate aside. This is really surprising as to why they are investing so much. AP Government & Singapore Companies will share the revenue generated from Amaravati lands. While AP would receive 42%, Singapore Firms will get 58%.
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