Jagan Mohan Reddy government is struggling with economic crisis, it will raise 1500 crores by selling land

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The Jagan Mohan Reddy government of Andhra Pradesh is grappling with the economic crisis and to deal with it, it has decided to sell government land in the city of Visakhapatnam. Jagan Sarkar says this will help him to raise Rs 1,500 crore. The government is going to sell 14.7 acres of land in Visakhapatnam, one of the state’s proposed capitals, through e-auction. This land is in 18 places, for which the state government had issued a notification through the National Building Construction Corporation recently. The date for submitting bids to purchase these lands has been fixed on 22 April.

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The largest part of these lands is in the Harbor Park located on the Ramakrishna Puram Beach Road. There is 13.59 acres of government land, which is at prime location, and the government is expected to get a considerable amount through it. During the Telugu Desam Party government, the land was leased to an UAE infrastructure company to build the International Convention Center. Apart from this, there was also a plan to build a five-star hotel and a multi-storey mall. The foundation of the project was laid in 2018 in the presence of Vice President Venkaiah Naidu and the then Union Ministers Suresh Prabhu, P. Ashok Gajapathi Raju.

Changed plan many times, finally stamped on selling

However, this contract was canceled in October 2019 after the Jagan Mohan Reddy government came to power. UAE’s Lulu Group said it would invest Rs 2,200 crore in the project. Apart from this, 7,000 youth were also claimed to get employment here. In a cabinet meeting held on 8 February this year, Chief Minister Jagan Mohan Reddy approved the proposal given by the National Building Construction Corporation and Andhra Pradesh Industrial Infrastructure on this land. Under this proposal, commercial and residential complexes were to be built here. With this, the state government is expected to get Rs 1,450 crore.

Jagan government is seeing an advantage in selling more than making

But now that proposal has also been postponed. An official said that the government lacked funds for construction. In such a situation, the government has decided to sell this land only so that the necessary funds can be arranged for government schemes. The government says that instead of building on this land, it will get more money if it is sold.

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