The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) appealed to Krishna District Collector P. Raja Babu to bring down the plot rates in the APIIC industrial park at Mallavalli in Bapulapadu Mandal to attract investors.
In a memorandum to the Collector, AP Chambers president P. Bhaskar Rao stated that he received several representations about the high rate of plots at Mallavalli industrial park, which has potential to emerge as a manufacturing hub, primarily due to its proximity to Vijayawada and excellent road and rail connectivity.
Many large industries have already set up their units in the park but several plots remained vacant as they were not affordable. Only 498 out of 1,248 plots in the industrial park were allotted.
The price of land was initially ₹16 lakh per acre, which hiked to ₹89 lakh per acre. The entrepreneurs to whom plots were allotted previously were asked to pay the difference in amount, which prompted 285 of them to submit applications for withdrawing from the industrial park and closure of their industries.
