The Andhra Pradesh Capital Region Development Authority, which is developing the capital city of Amaravati, has sharply increased the price of land being offered for commercial establishments and major private institutions.
On Thursday, the APCRDA invited Requests for Proposals for setting up star-category hotels and private schools in Amaravati as part of its efforts to strengthen the capital’s hospitality and educational infrastructure.
For hotel projects, the APCRDA has fixed the land price at Rs 8.20 crore per acre, the highest value notified in Amaravati so far.
A total of 9.19 acres has been earmarked for hotel projects. Three three-star hotels and two four-star hotels have been proposed at Thulluru, Rayapudi and Venkatapalem.
Developers of three-star hotels will be required to invest a minimum of Rs 75 crore. The four-star hotels must have at least 175 rooms and include banquet or convention facilities with a seating capacity of 2,500 people.
Land for the hotel projects will be allotted on a freehold basis.
To promote quality education in the capital region, the CRDA has also proposed the establishment of five private schools offering classes from Lower Kindergarten to Class XII.
The APCRDA has reserved 15.80 acres for private educational institutions. Land for the schools will be leased for 33 years at a rate of Rs 4.10 crore per acre.
The schools will be established at Thulluru, Navuluru, Penumaka, Krishnayapalem and Dondapadu.
Tender documents for both the hotel and school projects became available on Wednesday. A pre-proposal meeting for hotel developers has been scheduled for July 22, while the deadline for submitting bids is July 30.
The APCRDA said the projects are intended to meet the growing demand for quality educational and hospitality facilities as government offices, public representatives, judicial institutions, professionals and domestic and international investors increasingly move to Amaravati.
