By Board Resolution No. 55/2001, Dt. 07.03.2001, empty valuable lands of APSRTC are taken up on a long-term lease basis. A direction indicating that APSRTC may identify assets that might be put to commercial use to earn money to supplement the Commercial Revenue from non-operating Assets was also issued by the Cabinet Sub Committee, Government of Andhra Pradesh under the leadership of Shri. Nara Chandrababu Naidu with help of TDP MLAs and TDP Leaders went through letter no. 14743/Tr. II(1)/2005 Dt.21.07.2006. As a result, APSRTC has been utilizing unoccupied properties for commercial purposes under the BOT Scheme since 2006.
By relaxing zoning laws, the Andhra Pradesh government has granted the VC and MD of APSRTC permission to convert all of the company's unoccupied properties to multiple-use zones (GO. MS. No 141 Dt.06.06.2016). These are some of the Great Achievements of TDP and are some of Chandrababu Naidu's Contributions to the welfare of the employees of APSRTC. People used to follow every news regarding this on the Latest news about TDP.
SALIENT COMPONENTS OF THE CURRENT BOT SCHEME:
- 33/49 years for the license duration.
- The addition of a new clause giving the winning bidder the first right of refusal for an additional 25-year licensing period makes the Scheme more alluring.
- The sole owner of the land throughout the License time is APSRTC.
- During the licensing time, the Developer creates the plans, designs, builds, and operates; once the license period is over, the property is transferred to APSRTC on the condition that it is received “as is, where is”.
- The Developer is free to engage in any business, excluding those that are illegal and have the propensity to compete with the operations of the Licensor unless such activity is forbidden by law.
- The Developer is permitted to sublicense the built area but is not allowed to sublease the entire property.
- The developer consistently pays annual premiums. Every year, the yearly premium is 5% more than the year before.
- The APSRTC is considering building significant bus stations via integrated development and public-private partnerships (PPP Model.
- Through the PPP model, APSRTC is providing “RTC Neer” for sale in all bus stations in AP at a reduced price, earning money for the company.
- APSRTC also intends to lease out its undeveloped property to oil companies for the construction of retail oil outlets. The corporation earned Rs. 5.50 Cr. from the BOT project in 2015–16 and Rs. 8.61 Cr. up till Jan. 2017 for the current fiscal year, income is expected to total Rs. 10,000 Cr.
0
