The state government has permitted the AP State Road Transport Corporation (APSRTC) to covert its vacant land into commercial use zones (CUZs) or multiple use zones (MUZs).
All the urban civic bodies and urban development authorities as well as the Capital Region Development Authority in Amaravati will be allowed to use the CUZs and MUZs. Sources from APSRTC said the state government decided to give away the land for commercial use on a long lease from 33 years to 49 years in a bid to tide over its financial crisis. In the 2015-16 fiscal, the APSRTC across the 13 districts incurred a loss of Rs 530 crore.
Read more: Economic Times
