Andhra Pradesh Chief Minister is making grandiose plans to develop new capital Amaravati as a global and cosmopolitan city. Now AP govt has issued orders increasing the rents for the private buildings in the proposed capital area. AP govt has decided to use some private buildings for administration purpose and it has issued orders on the proposal of increasing rents. Finance ministry has taken the decision on proposal after getting approval from AP CM.
As per the orders Govt is going pay 15 rs per sq ft for Non-AC buildings in Vijayawada-Guntur Corporation and for the buildings which have all facilities like wi-fi, power back up and AC the amount will be 18 rs per sq ft. The revised amounts will be affected from March 1 st. However the increased rents will be applicable for only govt buildings and infidel people cant going to affect with the decision of hike.
Its known that Chandrababu Naidu already appealed to building owners not exploit the conditions and increase the rents and land values abnormally. Other side Employees shifting from Hyderabad to Vijayawada are already worried about the escalating rents in the city.