vijayawada with the national green tribunal giving its approval for the construction of amaravati with some caveats industry sources say a good beginning has been made ap president of confederation of indian industry jsrk prasad said it is a welcome development the ap government can now begin the construction of new city this will stimulate the construction industry particularly cement iron and steel sectorsaccording to a leading realestate developer in visakhapatnam the ngt decision was cityspecific the ngt ruling clears the way for the government to begin work on building new capital but i think it will be a while before the realestate sector in amaravati picks uphe said the main obstacle for the realestate sector was the lack of purchasing power among people most people in their late forties and early fifties have probably bought their houses in hyderabad or elsewhere in the state this segment will thus not be keen to buy another home in amaravati because the rental value will also be minimal he said however he said the approval will help government to begin work on buil this will no doubt help the construction sector he saida senior executive with a private sector renewable power utility in hyderabad also welcomed the decision it will be a relief to the ap because it can now raise funds he saidhowever he added ngt decision will have no impact on investment decisions because approval referred specifically to amaravati and investment proposals in manufacturing or industrial sector will still need to get statutory approvals before they can set up their unitby shaukatmohammed