Andhra Pradesh government to float bonds worth Rs 1000 crore for Amaravati
- Chandrababu Naidu led CRDA floats bonds for state capital development.
- A consultant has been appointed for the riverfront project.
FollowIn the bid for the development of state capital Amaravati, the Andhra Pradesh government has floated Rs 1000 crore bonds. The decision was taken by The Capital Region Development Authority (CRDA) led by Chief Minister N Chandrababu Naidu.
Naidu reportedly said that the layouts of the pooled land should be developed in three phases. Further CRDA Commissioner Ch. Sridhar told Chief Minister Naidu that tenders will be allowed soon for development of layouts as the HUDCO is coming forward to release Rs 7,500 crore for capital development, according to IANS.
The utilisation certificate has been reportedly submitted for Rs 1,050 crore released by the central government. The state government will not only develop the layouts in pooled lands and handover the plots to farmers, but also bear the cost of stamp duty and registration charges.
The development of 6.84 square km startup area in Amaravati will be in Swiss challenge system. The officials have been given three months to submit the final designs for both inner and outer ring roads of Amaravati.
A consultant has been appointed for the riverfront project who has suggested development of ghats and canals, and also entertainment centres on the banks of the river Krishna.
