Amaravati is on the path to being a city like no other in India. The capital city of Andhra Pradesh is being built on 217 square kilometres of open fields in Guntur district. It is being designed to have 51% of green spaces and 10% of water bodies, with the intent to be home to India’s most iconic buildings. The potential for growth in Amaravati is immense and investors from all over the globe are taking notice.
Amaravati has the benefit of being planned by world-class consultants and architects. The city is being modelled on Singapore, with the masterplan being prepared by two Singapore government-appointed consultants. Chinese and Japanese firms will see that Amaravati reaches all design, efficiency and sustainability benchmarks. Experts from all over the world have been invited to oversee all aspects of the social and physical infrastructure, including urban management, core capital areas, sewer networks and water supply. To ensure quality, contractors are involved. The Swiss Challenge procurement method is being adopted, wherein an unsolicited bid is published online for others to either match or exceed it.
According to the timeline of the project, Amaravati will be populated and functional in 2024, when most of the buildings, luxury hotels, universities and the central business district will be operational. The final phase is scheduled to be completed by 2029. The city is expected to be home to 13.5 million people by 2050 as per the masterplan, and will be six times larger than Chennai.
Business Friendly Environment
Andhra Pradesh and Telangana have both topped Ease Of Doing Business rankings by the World Bank with their business friendly policies. This has led to the rise of a new era of development in India.
The region of Amaravati is a renowned centre for learning, commerce, trade, industry and agriculture. The region is also long established as a prime centre for export activities in India. It forms a part of Vishakhapatnam-Guntur Industrial Region, a major industrial corridor in the country.
Amaravati is primed to attract marquee global brands, which will be key to the success of the new capital. The authorities are dedicated to attracting investments from national and international industries such as retail, energy, education and healthcare that will have a positive impact on real estate sector. Connectivity is being continuously upgraded to facilitate the growing economy of the region.
Amaravati has some inherent geographical advantages when looked at from an investment perspective. Its location in between Vijayawada and Guntur makes it viable as an investment centre. Vijayawada’s popularity as an entrepreneurial hub and Guntur’s educational and commercial zones will benefit Amaravati. The region also has ample water supply which will only be improved upon as infrastructure of the capital is developed.