Andhra Pradesh government on Friday floated Tirupati smart city corporation limited for the development of temple town Tirupati as smart city. The SPV will be owned by the state government and the Tirupati Municipal Corporation on 50:50 ratio and will be governed by a board of directors and is answerable to union and state governments and Tirupati Municipal Corporation and all other stakeholders. 

The paid up capital of the Special Purpose of Vehicle will be Rs.5.00 lakhs divided into 50,000 equity shares of Rs.10/- each. This paid up capital will be increased as and when the funds are released to the SPV. The following officers are nominated as initial shareholders of the SPV.