Andhra Pradesh government is taking a cue from Singapore in mobilizing funds required for the construction of the upcoming state capital. According to the model, the government will approach real estate giants with the development prospects of the capital city, the risks involved, the estimated returns and will try to pool in as many as funds possible from them. These funds will be used for the construction of the state capital on Private Public Partnership (PPP) model.
The government is in the hunt for a globally reputed urban master plan designer to develop the spatial concept master plan for the capital city. The consultancy shall prepare a project document with estimated population growth for a 30-year period till 2045 and development that may take place in the city by then. The vision document will be the instrument for government to attract the Capital funding. It is said that Chandrababu Naidu’s son Lokesh had studied this concept of Singapore and gave a detailed presentation to his father. Chandrababu is very much impressed with his study and has agreed to implement it for the state capital.
