Amaravati Start-Up Area Development Project Scrapped By AP Government
The Andhra Pradesh government has scrapped the Start-Up Area Development Project in the new capital city of Amaravati, which was supposed to generate 2.5 lakh jobs in next few years. The state government has also terminated the agreement with a Singapore consortium led by of Ascendas-Singbridge and Sembcorp Development.
The Amaravati Start-Up Area Development Project was the first major real-estate venture that the previous government had undertaken under the Public Private Partnership mode. The land allotted for the purpose was stuck in an ecological-legal tangle, as 170 acres out of 1,691 acres was right on the river bed.
The consortium was to partner with a state government entity, Amaravati Development Corporation, through a special purpose vehicle Amaravati Development Partner (ADP) and was investing Rs 306 crores as its equity in the SPV.
The ADP was to spend Rs 2,118 crores, for the creation of basic infrastructure like roads, water supply, drainage and electricity and subsequently transfer the infrastructure to the Capital Region Development Authority.
World Bank Pulls Out $300-million Investment From Amaravati
World Bank has pulled out its investment worth $300-million from a key development project of Amaravati. The World Bank website showed the status of Amaravati Sustainable Infrastructure and Institutional Development Project as 'dropped'. According to the media reports, the World Bank is reported to have taken the decision following complaint by farmers and people's organisations. They said that development of Amaravati will affect their livelihood and impact the environment.
It was four years ago when Andhra Pradesh was divided into Telangana and Seemandhra. Though Hyderabad is the shared capital of the two states, Andhra Pradesh Chief Minister announced Amaravati as the new capital of the state which will be redeveloped entirely into a world-class city.
Taking a major step towards the making of a global city, Andhra Pradesh CM launched city's first housing project, 'Happy Nest'. The project was to be constructed in 14 acres of land with 12 towers and 1200 flats. A web-portal has been created to invite applications which will be open from November 9. The flats have been priced at Rs 3,492 per sq ft and have been categorised into two configuration - 2/3BHK, available in six sizes, ranging between 1,295-2,750 sq ft. This project will come up in Nelapadu, about 500 metres from the housing project of the gazetted officers.
For the construction of this world-class city, the Andhra Pradesh Capital Region Development Authority (APCRDA) issued Amravati bond, which witnessed a record 1.53 times oversubscription, raising Rs 2,000 crore of funds. According to the APCRDA, the money raised through the bonds would be utilised for infrastructure development in the capital city.
Here are some of the key features of the project being designed by one of the world's most expensive architects, Foster and Partners:
- The city's master plan is divided into nine grids. The administrative block, the justice city, state buildings and residential areas are part of these grids.
- The administrative city will be spread over 900 acres. Of the total area, the Legislative Complex containing both the Legislative Assembly and the Legislative Council will be constructed on 160 acres of land, with 140 acres dedicated to the blue-green concept. The structure would come up on the remaining 20 acres.
- The Justice City will be located in the south of the city which will take care of the legal mechanism. The city will be a tribute to B R Ambedkar, the father of Indian Constitution.
- The State Assembly will the tallest building in the city. Apart from this, the High Court Complex and the Secretariat will be other iconic structures along with a tower that would have an observatory deck for an aerial view of the city.
- Over 50 per cent of the total area is reserved for green spaces and parks and 10 per cent for water bodies.
- The waterways will be planned across the city for water cruise that will run along the serene environment of the city.
- Motorised vehicles will be allowed in the core areas of the city and only energy-efficient vehicles such as electric buses, pods, rentable cycle and taxis will be allowed to ply. This will bring down the carbon footprint of the city by 40 per cent.
- The buildings planned across the city will be using renewable energy sources.
- The existing irrigation canals will be upgraded to provide recreational areas along the banks.
- The layout of the city has been planned in the way to allow maximum flow of wind. The buildings will be also designed to maximise the cooling potential of the flowing wind.
For speedy execution and better administration, Amaravati will have a dozen ring-fenced entities (RFEs) for the execution of "remunerative projects" like water and power supply, transport and a host of others to be created under Andhra Pradesh Capital Region Development Authority (CRDA). Ultimately all the local services will be delivered by the metropolitan government or regulated RFEs, which could be companies, societies or trusts. Similarly, Amaravati Development Fund, Amaravati Building Construction Company Limited, Amaravati Growth Corridor Company Limited, Amaravati Industrial will be created to look into the infrastructure creation and maintenance in the city.
As the chief minister has suggested changes in the design of the State Assembly, the High Court Complex and the Secretariat, the architect company will be submitting an updated report within 60 days, say media reports. The team has also prepared a Fly-through video animation as part of their concept design, which can be viewed on the official Facebook page of Amaravati.
PropGuide decoded the Andhra capital's master plan. This three-part Amaravati master plan was developed by Singapore's Surbana Jurong Pvt Ltd in 2015: