Andhra minister woos investors in Amaravati
     Andhra Pradesh Information and Technology Minister Nara Lokesh has invited realtors to participate in developing state’s capital Amaravati. After inaugurating three-day property show here, which is being organised by the Vijayawada chapter of the Confederation of Real Estate Developers’ Associations…

     Andhra Pradesh Information and Technology Minister Nara Lokesh has

invited realtors to participate in developing state’s capital Amaravati.

After inaugurating three-day property show here, which is being organised by the Vijayawada chapter of the Confederation of Real Estate Developers’ Associations of India (CREDAI), he said construction of new capital Amaravati is a great chance for property developers.

“Most of you are into housing sector but there is also a dire need of commercial space. I appeal to you all to take up commercial constructions too,” Lokesh said. He assured that there is a strong demand of commercial property in the state.

“The developers have doubts about occupancy. In fact, we are facing the problem of office space. Many companies are hesitating to set up offices in Andhra Pradesh due to a lack of office space. I assure you the occupancy,” he said adding that the government has decentralised development to all areas in the state.

“IT industry is growing in Amaravati, Visakhapatnam and Raichur. Electronics industry is being developed in Rayalaseema area,” the IT Minister said.

CREDAI representatives asked the minister to raise voice in the GST (Goods and Service Tax) council on behalf of them about their grievances about high GST rates and hidden costs thereof.

 

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