GSDP contribution of Rs 60-80K cr from Amaravati by 2050: Report

The report cited key features from the master plan which includes 51 per cent green space inspired by Singapore, preservation of natural habitats and enhanced green cover for air quality and biodiversity, surrounding urban clusters for residential, commercial, educational and recreational purposes and emphasis on sustainability

Vijayawada: With a plethora of opportunities, real estate business will have a promising future ahead in Andhra Pradesh, a report released by Credai and JLL stated.

The report was released at the Southcon 2024, the Southern India conference of Credai held at Vijayawada by Minister for Municipal Administration and Urban Development P Narayana.

With the title "Andhra Pradesh: A gateway to investment opportunities," in the preface, JLL Senior Managing Director Sandip Patnaik, stated that the document presents an outlook on future opportunities in tourism infrastructure, industrial development and real estate opportunities, considering emerging trends, upcoming projects and the State's growth vision. The report showcases the huge growth potential in Amaravati in addition to port city of Visakhapatnam and other areas.

On the vision for building the capital city at Amaravati, the report said Amaravati is set to become a pioneering smart city--a people's capital developed as per global standards. The report said goals and strategies for 2050 that Amaravati will serve as a model for smart, sustainable urban development, providing advanced jobs and enhancing the quality of life.

Amaravati will have 29,280 km of road network, 3.50 million resident population and two million jobs and a projected GSDP contribution of Rs60,000 to Rs80,000 crore by 2050, according to the report. Amaravati will be a self-sustaining city with breakeven investments by 2030 with tie-ups with World Bank and HUDCO, the report added.

The TDP-led NDA Government has decided to make Amaravati among the top three livable cities in the world. The report cited key features from the master plan which includes 51 per cent green space inspired by Singapore, preservation of natural habitats and enhanced green cover for air quality and biodiversity core capital area with government offices, cultural institutions and public places, surrounding urban clusters for residential, commercial, educational and recreational purposes and emphasis on sustainability. It also lays emphasis on following green building standards, water conservation and renewable energy.

The report stated AP with the second largest coastline after Gujarat is recognised by the World Bank for energy efficiency and conservation programs. It has a growth rate of 11.43 per cent for 2023-24, higher than the national average. It ranks 8th in export preparedness index 2023 and recognised as an achiever among coastal States in logistics ease by DPIIT in Leads survey

report 2023.