TDP Regime Gives Away Prime Amaravati Land For A Song In The Name Of IT 

Amaravati: Another glaring case of land being sold at a throwaway prices in AP capital Amaravati and Chittoor has come to the forefront. Sakshi reporter has unearthed a scam where around 200 acres of prime land was sold to IT companies at concessional rates , which was done at the behest of Andhra Pradesh Chief Minister N Chandrababu Naidu in the guise of encouraging IT in the state.

Sweet Deals...The Government has allocated prime land in the capital city of Amaravati to Karvy Data Management Services Ltd for establishing an IT company there. Apart from giving the land away at throwaway prices, the government also promised subsidies in the forms of grants.

For establishing an electronic manufacturing unit in Tirupathi and Chittoor , the state government has allotted 5.64 acres of land to a company called Extron Servers. Apart from land, the state government has also given a subsidy of more than 121% on its investment amount.

In another case, the state government has allotted 175 acres of land in Tirupati and Chittoor to Reliance Prolific Traders for establishing another electronics park with subsidies and grants as part of the deal. All these deals have been ratified with IT Principal Secretary K Vijayanand issuing three separate GOs to this effect.

16.42 acres of land  for Karvy Data Management Services Ltd.

16.42 acres of land was allotted to Karvy Data Management Services Ltd. for Developing the Mega IT Development Park in Amaravathi. The firm requested the Government to allot 16.42 acres of land at a rate of Rs 55 lakhs an acre. It had also sought a subsidy of Rs 50 thousand for each job generated. It is said that in the state capital, an acre of land costs Rs 4.1 Crore and 16.42 acres would cost around 67.32 Crore.

Under Chandrababu's leadership the Investment Promotion & Project Facilitation Division (IPPD) approved the subsidy at Rs 55 lakhs an acre and with this Karvy purchased the land at Rs 9.03 crore and earning a benefit of Rs 58.29 Crore for the government. Since it was generating jobs for the unemployed another Rs 60.1 Crore subsidy was granted . It is learnt that Karvy plans to invest Rs 390 Crore in the IT company at Amaravati.

175 acres of land to Reliance Prolific Traders Pvt Ltd

Reliance Prolific Traders Pvt Ltd was given a Rs 50 Crore grant for establishing an Electronic Manufacturing Park in Tirupati, Chittoor district . The company was allotted 175 acres of land at a price of Rs 20 lakh an acre. The company is said to be investing an amount of Rs 127.43 crore and in addition to the land sold at a cheap rate, the government is also giving a grant of Rs 50 Crore for the 3750 jobs that it will generate.

5.64 acres of land to Extron Servers

Extron Servers received the highest subsidy in different forms apart from the being allotted 5.64 acres of land .The company which plans to invest Rs 359.7 Crore has received a subsidy worth Rs 437.85 Crore . The government is giving 121.7% subsidy to the company , but as per the Andhra Pradesh IT rules, the government should not give more than 30 % subsidy.

The land allotted was a given at a price of Rs 25 lakhs per acre , Rs 10, 000 subsidy for every job generated (900 jobs to be generated), 25 % subsidy on electricity for a period of 5 years, 100 % waiver on electricity duty charges for 5 years,100 % reimbursement on VAT, GST and the fixed capital was also promised to the company.

Also Read: AP Government Development Only In Graphics: Vijayasai Reddy