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Discussion in 'Core Capital City' started by satish, Jul 21, 2016.
Jul 21, 2016
Amaravati Startup Project
Amaravati Startup Area Plots
Sep 29, 2016
'Amaravati's start-up area a state project'
By Express News Service
Published: 27th September 2016 04:59 AM
Last Updated: 27th September 2016 04:59 AM
HYDERABAD: Making it clear that the proposed development of start-up area of Amaravati capital city was a state project, the Andhra Pradesh government on Monday told the Hyderabad High Court that the procedure adopted by it in examining the proposals of the Singapore consortium was proper.
AP advocate general Dammalapati Srinivas was making this submission before a division bench comprising Acting Chief Justice Ramesh Ranganathan and Justice U Durga Prasad Rao dealing with an appeal filed jointly by the state government and the Capital Region Development Authority (CRDA) challenging the interim order of a single judge who stayed all further proceedings of the notification issued for development of start-up area of Amaravati city. The appellants sought to vacate stay on bidding process to develop start-up area under Swiss challenge method.
Continuing his argument, the AG contended that AP and CRDA are one entity in the Concession and Development Agreement and inseparable as a party entering into agreement. In this regard, the findings of the impugned order is misconceived, he added.
While explaining the procedure followed by the government in the bid process, Dammalapati pointed out that the order impugned was passed bringing the entire start-up activity to a grinding halt. At this stage, the bench said that any issue which involves public interest need to be examined.
May 4, 2017
Cabinet nod for development of start-up area under Swiss Challenge
Singapore consortium will develop it along with ADC
The State Cabinet has approved the proposal submitted by the Singapore consortium for the development of start-up area in the capital city of Amaravati under the Swiss Challenge method. The Singapore consortium — Ascendas-Singbridge Private Limited and Sembcorp Design — will develop the area along with the Amaravati Development Corporation (ADC). A Special Purpose Vehicle will be floated by the ADC and the consortium for this.
Addressing a press conference at the Secretariat on Tuesday, Chief Minister N. Chandrababu Naidu said 1,691 acres would be developed in three phases in the next 15 years. In the first phase, 656 acres, in the second 514 acres and in the third 521 acres would be developed. The gross turnover and profits, investments would be shared in 42:58 ratio by the government and the consortium. The average gross revenue for the government will be 8.7%, as the gross revenue share is 5% during phase-I, 7.5% during phase-II and 12% in phase-III.
The consortium will invest Rs. 3,068 crore while the government will have to spend Rs. 222 crore. The investments will be Rs. 4,468 crore. As many as 1.25 lakh families are expected to live in the core capital area; 2.5 lakh jobs will be created and it will contribute Rs. 1.15 lakh crore to the GSDP, he said.
Mr. Naidu said, “Our objective is to build the world’s best city, not just world class capital.” The work should have begun two and half years ago but for the cases filed in the High Court. A couple of firms moved against the procedures followed in the Swiss Challenge. The government withdrew the method followed initially. Now, the procedures were revised, he explained.
Mr. Naidu said that the land would be given at nominal rate to the consortium for start-up area. The base price fixed for phase I was around Rs. 4 crore per acre. The price of land for next phases would be fixed later.