AP government pockets Rs.105 crores in reverse tendering of the housing scheme

The state government has once again saved the public money by reverse tendering in the construction of houses. A total of Rs 105.91 crore was collected by reverse bidding of 14,368 housing units in the first phase of AP Tidco (AP Township Infrastructure Development Corporation). The reverse tenders were finalized on Thursday.

AP Tidco has undertaken projects with 65,969 housing units under the housing scheme code for towns in the period of TDP. Tenders have been finalized for higher prices than in other states. After the YSRCP came to power, the tender process was transparent, saving public money. Chief Minister Jagan has ordered the reverse tendering of 65,969 housing units in AP Tidco. Reverse tenders were called on the very next day of major bids, has made it clear that the reverse tenders should be processed.

As part of this, AP TIDCO undertook the reverse tendering process for 14,368 housing units in Chittoor, Krishna, Visakhapatnam and Vijayanagaram districts. In a statement, Minister Botsa Satyanarayana said the company had saved Rs 105.91 crore.