CRDA allotted 24 acres to eight companies to set up 4-star and 5-star hotels in Amaravati. CRDA Commissioner Ch Sreedhar gave letter of intent to the representatives of the companies at a program held at the CRDA office in Vijayawada on Friday.
CRDA has allotted lands at a price of Rs 1.5 crore per acre. Each 4-star hotel has been allotted 2 acres and each 5-star hotel has been allotted 4 acres. The companies have to complete the construction within three years from the date the physical possession is given to them.
The companies that have expressed interest to set up 5-star hotels are Novotel (at Lingayapalem village), Double Tree by Hilton (Mandadam village), Crown Plaza (Sakhamuru village) and Hilton (Navuluru). Similarly, Dasapalla Hotels (Sakhamuru village), GRT hotel (Mandadam), Holiday In (Kondamarajupalem) and Greenpark hotel (Navuluru) have committed to set up 4-star hotels.