Amaravati: The Capital Region Development Authority (CRDA) has approved 59 development projects worth Rs 37,702 crore to accelerate the construction of Andhra Pradesh’s greenfield capital, Amaravati, according to Municipal Minister P Narayana. These projects will commence after the Cabinet’s approval on March 17.
Key Highlights of Amaravati’s Development Plan
59 projects approved with a budget of Rs 37,702 crore.
20,000 jobs to be generated next month for Amaravati’s development.
73 tenders worth Rs 48,012 crore were initially invited, of which Rs 37,702 crore worth of projects have been cleared.
22 CRDA projects valued at Rs 22,607 crore and 37 ADC projects worth Rs 15,095 crore included.
Additional tenders worth Rs 16,871 crore will be invited by March-end for projects such as the NTR statue, iconic bridge, and Karakatta road.
Land Allocations & Financial Strategy
CRDA has 6,203 acres of land, with 1,900 acres allocated to organizations and 4,000 acres reserved for leasing/auction.
Rs 31,000 crore borrowed from the World Bank (Rs 15,000 crore), HUDCO (Rs 11,000 crore), and banks (Rs 5,000 crore).
Rs 6,000 crore allocated in the state budget for Amaravati, primarily from loans.
Government plans to auction land at appreciated prices to repay loans.
Amaravati’s Future Vision
The capital region covers 53,500 acres, with 30% dedicated to green and blue spaces.
Between 2014-2019, tenders worth Rs 43,000 crore were invited, and Rs 9,000 crore spent on infrastructure and land allocation.
With massive infrastructure plans, global funding, and a sustainable financial model, the Andhra Pradesh government aims to accelerate Amaravati’s transformation into a world-class capital.
