CRDA plans to allocate 4 acres of land for 5-star hotel, 2 acres of land for 4-star and acre each for 3-star hotels. Land will be allocated on lease basis for a period of 33 years from date of executing Agreement to Lease. The lease term will be extended by 2 terms of 33 years each at mutually agreed terms and conditions.
The Lease premium will be at an upset price of Rs 5000/Sq Mtr and annual lease rent of INR 1/Sq Mtr per year. 5-star hotel has to accommodate minimum of 150 rooms, where as 4-star and 3-star hotels has to have a minimum of 125 and 100 rooms respectively.
CRDA proposes 5-star hotel in Mandadam village, 4-star at Nelapadu. Out of four 3-star hotels, two of them will be in Mandadam, Nelapadu and Velagapudi will accommodate one each.
5-Star Hotel Location:
Land allotted for 5-star hotel is in Mandadam, adjoining seed capital access road. Its near to Residential plots allocated to Mandadam Jareebu Farmers.
4-Star Hotel Location:
Land allotted for 4-star hotel is in Nelapadu village in the commercial area to the south of proposed Government complex area and near to Commercial plots allocated to Kondamaraju and Nelapadu farmers.
3-star Hotel Location:
Land alloted for four 3-star hotels is as follows:
1. Adjoining Seed capital access road in Mandadam. Near to Residential plots allocated to Jareebu farmers in Velagapudi and Mandadam villages.
2. Located to South of Penumaka – Thullur expressway and east of Interim government Complex. Located in between the commercial plots allocated to Uddandarayunipalem and residential plots allocated to Malkapuram farmers.
3. Located in south of Velagapudi Village and Interim Government Complex and north of Inavolu village.
4. Land allotted in commercial area to the south of proposed Government complex area in Nelapadu village.Near by to commercial plots allocated to Nelapadu farmers.