Nara Lokesh invites realtors to participate in Amaravati development

Andhra Pradesh Information and Technology Minister Nara Lokesh on Friday invited realtors to participate in developing state's capital Amaravati.

He was speaking after inaugurating three-day property show here, which is being organised by Vijayawada chapter of Confederation of Real Estate Developers' Associations of India (CREDAI).

"Construction of new capital Amaravati is a great chance for all of you. Most of you are into housing sector but there is also a dire need of commercial space. I appeal to you all to take up commercial constructions too," Lokesh said.

He assured the developers that there is a strong demand of commercial property in the state.

"The developers have doubts of occupancy. In fact, we are facing the problem of office space. Many companies are hesitating to set up offices in Andhra Pradesh due to lack of office space. I assure you the occupancy," Lokesh said.

He said the government has decentralised development to all areas in the state.

"IT industry is growing in Amaravati, Visakhapatnam and Raichur. Electronics industry is being developed in Rayalaseema area," the IT Minister said.

CREDAI representatives asked the minister to raise voice in the GST (Goods and Service Tax) council on behalf of them about their grievances about high GST rates and hidden costs there off. They further elaborated the problems in the realty sector.

The minister assured them of taking up the issues raised by them at the GST Council meeting.