Economic Cities for Economic growth

Economic Cities, a housing project comprising one lakh house's will be taken up by government in association with private construction companies.The project will be placed at Achyutapuram and Anandapuram on the suburbs of the city.

The project is proposed so as to drive economic growth in the city. The housing project will be self-sufficient with education, health, shopping and entertainment. A total of one lakh houses were planned with 65,000 housing units at Achyutapuram and 35,000 at Anandapuram, according to an official press release by the Andhra Pradesh Township and Infrastructure Development Corporation. The estimated capital for the project is around 15000 crore rupees to 20000 crore rupees.

A meeting was held on the basis with builders, representatives of employees and entrepreneurs. Speaking at the event Chief Secretary S.P. Tucker has confirmed that economic cities project is being taken up and the work would be launched in the next month. Of the five lakh families in the city two lakh need houses of their own and the projects envisage providing them houses close to the place of work, particularly at industrial hubs Achyutapuram and Nakkapalle, avoiding the hardship of travelling more than 30 km, Mr. Tucker said. Advantage should be taken of the Rs.2.2 lakh interest subvention being provided by the Union government for houses in 30 to 60 square meters, he said.

Assuring the private agencies of cooperation, in identifying the potential buyers and providing support by AP Township and Infrastructure Development Corporation (APTIDC) and getting financial assistance from banks will be given, he said.

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