Barely days ahead of the Andhra Pradesh government’s expected announcement on the location of the capital city, mega property deals are picking up pace. At least two such properties are in the process of changing hands in the Vijayawada, Guntur, Tenali and Mangalagiri (VGTM) region totalling over Rs. 1,300 crore.
According to sources, a mega deal related to a family entertainment theme park, Haailand Resorts, located between Vijayawada and Guntur, is said to be on the anvil. The theme resort is owned by the Agrigold Group. “The Group was looking for over Rs. 800-crore loan but now talks are on about its impending sale. The deal is hovering over Rs. 1,025 crore and it is most likely to be fixed soon,” said a senior official from a public sector bank in Vijayawada.
When asked about the development, a senior official of Agrigold said the Group was not willing to sell it but was interested in developing the theme park further. “Our promoters might be looking for some loan but the property is very much with Agrigold as of now. These rumours are being floated ever since cine actor and member of Parliament M. Muralimohan stayed in our resort on the day of CM’s swearing-in ceremony a month ago,” he said.
Government OrderOn Sunday, the State government issued a GO constituting a nine-member advisory committee with Municipal Administration Minister P. Narayana as its chairman to examine different aspects of constructing a capital city as well as suggest an action plan for its development.
The committee has four industrialists.
