What Rs 1,000 Cr Bonds For Capital Development Mean

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The joint decision of Capital Region Development Authority (CRDA) and Chief Minister N Chandrababu Naidu to float Rs 1,000 crore bonds for development of Amaravati capital sparked off fresh debate.

The floating option means contributing to the development of the pooled land in three important phases. Tenders will soon be called for the development of these layouts, as the HUDCO is in the process of releasing Rs 7,500 Cr for the capital region development.

The CM had shared that state government will develop the layouts in pooled lands and then hand over the plots to the farmers. The state government will also bear the stamp duty and registration cost towards the same.

The meeting that was held lately concluded upon developing a 6.84 km start up area in Amaravati going by Swiss challenge system. A special consultant has been appointed to give a presentation on the development of Ghats, Canals and the entertainment centers that were proposed on the banks of the Krishna river.

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