Amaravathi, the upcoming Capital of Andhra Pradesh will not only burn a hole in AP’s pocket but also will fill its coffers in some other way. CRDA authorities are mulling over revenue generation from the capital region. Accordingly they are planning the collection of special impact fee in capital city area.
This Special Impact fee is already in place in GHMC area of Hyderabad. Builders will have to shell out around Rs. 35 per sq.ft to construct a residential building in the GHMC area. Similarly, it would be around Rs. 45 per sq.ft for commercial space.
It is currently just 15 Rupees per sq.ft in CRDA area. CRDA officials are planning to increase it on par with GHMC fees. The World Class capital planned here will bring in huge money for the government via this Special impact fee.