AP CM N Chandrababu Naidu Pledges Full Support to Real Estate Sector
Andhra Pradesh Chief Minister N Chandrababu Naidu has assured full support to the real estate sector, predicting significant growth in the coming years. He emphasized the importance of proper permissions and sustainable development.
Real EstateAndhra PradeshN Chandrababu NaiduDevelopmentInvestmentsReal EstateJan 10, 2025
Speaking at the inauguration of a property show here on Friday, Naidu predicted that the real estate and construction sectors will flourish in the state in the coming years.
He recalled the recent inauguration and laying of the foundation stone for Rs 2.8 lakh crore worth of development works by Prime Minister Narendra Modi, stating that investments are slowly coming to the state, bolstering the 'Brand AP image.'
The Chief Minister highlighted that the tourism sector would also see significant growth, which would help enhance the state’s revenue resources.
He noted that the free sand supply system has been launched by the TDP-led NDA government.
Naidu mentioned that the NAREDCO (Nadendla Real Estate Developers & Consultants Organization) has grown substantially, with the real estate sector contributing 7.3% to the GDP.
He predicted that this share will grow by 20% by 2047, reaching the $5.8 trillion mark.
If all sectors grow simultaneously, the living standards of the people will also improve, he acknowledged.
Naidu declared that the state is attracting Rs 4 lakh crore in investments over just seven months, which will result in employment for four lakh people.
The government has set a target of providing 20 lakh jobs over the next five years.
He also announced that work on the capital city, Amaravati, will resume with an investment of Rs 50,000 crore.
Naidu described this as a self-sustaining project, emphasizing that assets are generated where real estate flourishes.
To further boost connectivity and development, a ring-road is being designed around Amaravati, spanning 183 km, which is larger than the Hyderabad Outer Ring Road.
Once completed, this project will merge Guntur and Amaravati, enhancing the urban landscape and economic growth of the region.
Naidu warned builders to avoid any constructions without proper permissions and reiterated that illegal transport of sand would not be tolerated.
Frequently Asked Questions
What did N Chandrababu Naidu promise to the real estate sector in Andhra Pradesh?
N Chandrababu Naidu assured full support to the real estate sector, predicting significant growth in the coming years and emphasizing the importance of proper permissions and sustainable development.
How much investment is expected in Andhra Pradesh's development projects?
The state is expected to attract Rs 4 lakh crore in investments over just seven months, which will result in employment for four lakh people.
What significant infrastructure project is being planned around Amaravati?
A ring-road spanning 183 km is being designed around Amaravati, which is larger than the Hyderabad Outer Ring Road. This project aims to merge Guntur and Amaravati, enhancing the urban landscape and economic growth.
What is the current contribution of the real estate sector to Andhra Pradesh's GDP?
The real estate sector currently contributes 7.3% to Andhra Pradesh's GDP and is expected to grow by 20% by 2047, reaching the $5.8 trillion mark.
What measures is the government taking to ensure sustainable development in the real estate sector?
The government is strictly enforcing the requirement for proper permissions for any construction and has launched a free sand supply system to support sustainable development.
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