The much awaited international competitive bidding process has now kicked off for the development of seed start up area in Amaravati. Following the Swiss Challenge approach, the govt has initiated bidding for the 6.84 sq km land that is set to become the biggest start up zone in Andhra Pradesh. To this effect, the AP Capital Region Development Authority (APCRDA) has started calling in prospective proposals and counter proposals from the creme of bidders.
What was agreed as part of the plan earlier in course of formulating the Amaravati master plan, the AP govt had signed a MoU the Singaporean government in December 2014. The estimated cost of development for the startup area and its infrastructure totals Rs 3174 crores, and this includes commercial hubs, business districts and high density residential spaces.
Under the Swiss Challenge, the potential developers will be asked to submit their respective bids. The bidders with lowest numbers will be asked to resubmit based on the prevailing number. If the bidder comes with a potential number, he gets the right and in case he or she fails, the bidder with the lower number gets the deal.
The last date of submitting the proposals is September 1st, 2016.