Vijayawada, March 4 -- Andhra Pradesh State Legislative Council has approved the amendment to the Assigned Lands Act, paving the way for leasing assigned lands for clean energy projects.
The Legislative Council passed the Bill on Wednesday, following its approval in the Assembly last Thursday. State Revenue, Registration and Stamps Minister Anagani Satya Prasad said the amendment enables the government to allocate assigned lands to clean energy projects on a lease basis, ensuring a steady source of income for assignees.
Under the new provisions, leaseholders will pay Rs 31,000 per acre per annum, with a provision for an increase of up to five per cent every two years. The Minister stated that the move would provide a net and stable income...