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Tuesday, 19 April, 2016, 17 : 00 PM [IST]

Andhra Pradesh approves policy for leasing government land for tourism

As per a PTI report, the Andhra Pradesh government today approved a new policy for leasing out its land for tourism development activities. The state Cabinet, which met under the chairmanship of Chief Minister N Chandrababu Naidu, approved the new policy under which land under 10 acres would be leased out through competitive bidding. "Two per cent of the basic land value will be fixed as the base price and land would be allotted on lease to the highest bidder based on their technical and economic capacity," Naidu told reporters after the Cabinet meeting.

Depending on the size of investment for a tourism project, land would be given on an initial lease of 33 years. "If they do well, we will extend the lease for a further 33 years," the Chief Minister added.

The more the tourism sector will be developed, the more it would contribute to economic development of the state, Naidu pointed out. (Source: PTI)
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