The assets monetisation plan initiated by the Narendra Modi government at the Centre has come in as a blessing in disguise for the Y S Jagan Mohan Reddy’s much ambitious scheme of Mission Build AP aimed at selling government assets to raise resources for the cash-strapped state.
The Mission Build AP, aimed at monetising the government assets, could not take off due to legal hurdles and also Coronavirus pandemic in the last one year. Though the government issued notification to sell several parcels of lands in Visakhapatnam and Vijayawada.
The government proposed to auction of 18 parcels of land at APIIC Harbour Park, Agnampudi and other areas in Visakhapatnam and another 13.59 acres of land on the beach road which was earlier allotted to Lulu group by the previous TDP government.
The state government engaged National Building Construction Corporation (NBCC) under the Ministry of Housing and Urban Affairs, as its consultant to take up monetisation of these lands under Mission Build AP. But the scheme did not materialise, as the auctions were stayed by the AP High Court.
Now that the Centre has come out with an assets monetisation plan all over the country, the Jagan government has breathed easy. It has now got the legitimacy to go ahead with the monetisation of the assets it had planned.
Now, the government is planning to sell a piece of prime land in Vijayawada. It is also planning to rebuild the State Guest House located in an area of 3.26 acres by creating one lakh square feet of built-up area and a commercial complex with 2.5 lakh sft within next two years.
The AP Tourism Development Corporation (APTDC) also issued an e-procurement notice on September 7 inviting bids for architectural and design consultancy services for the redevelopment of the resort at Rushikonda in Visakhapatnam for buildings and associated works for an estimated value of Rs 72 crore.