Amaravati capital development works worth Rs 37,702 crore approved
Amaravati, March 11 (IANS) The Capital Region Development Authority (CRDA) on Tuesday gave its nod for development works worth Rs 37,702.15 crore in the capital city of Amaravati. The CRDA meeting chaired by Chief Minister N. Chandrababu Naidu cleared 59 tenders for taking up various works.
The works will be taken up immediately after the approval of the Cabinet that is going to meet here on March 17, said the Minister for Municipal Administration and Urban Development (MAUD) Ponguru Narayana.
Briefing media persons on the decision taken by the CRDA, he said that next month over 20,000 workers will take part in the development works.
Narayana said that tenders have already been called for 73 different works worth Rs 48,012 crore as the Cabinet has already given its approval.
The Minister said of these 59 works, the cost of 22 works in the CRDA limits alone is Rs 22,607.11 crore while the 37 other works of the Amaravati Development Corporation are worth Rs 15,095.04 crore, he added.
Narayana also said that lands were allotted to various organisations between 2014 and 2019 and the CRDA meeting on Tuesday cleared the land allocation for 31 various organisations.
The date has been extended to change the location of the land allocated to 11 other units while the CRDA accepted the proposal to change the location of land for two units.
Maintaining that the development of the capital city of Amaravati is expected to cost an estimated Rs 64,000 crore, the Minister clarified that the taxes collected from the people will not be spent for this purpose.
Of the total extent of land acquired from the farmers, the CRDA has an excess of 6,203 acres and of this, 1,900 acres will be allocated to various organisations, the Minister disclosed.
The amount generated either by mortgaging or selling this surplus land the capital city will be constructed, he stated.
Already Rs 15,000 crore loan has been raised from the World Bank, the Minister said and observed that another Rs 11,000 crore will be raised as loan from HUDCO while Rs 5,000 crore will be borrowed as loan from various other banks, thus Rs 31,000 crore will be mobilised.
Narayana felt that the cost of the land would certainly go up following the development activities after which the land would either be sold or mortgaged to repay the loans. Amaravati capital region has an extent of 53,500 acres, including all types of land of which 30 percent of the land will be developed green and blue, the Minister said.
Source: IANS
