Vijayawada: With the objective of building Amaravati greenfield capital without imposing any burden on common man, the state government is planning to mop up funds for the new capital by selling 4,000 acres of land in Amaravati. Officials are reportedly expecting Rs 80,000 crore through this monetization of the surplus land in Amaravati area.

It may be noted here that Chief Minister N Chandrababu Naidu and Minister for Municipal Administration P Narayana repeatedly claimed that Amaravati would be a self-sustainable project and once the capital got developed, it would start yielding revenue for the government.

Speaking toHans Indiarecently, Minister Narayana said that there was no dearth of funds for Amaravati development works and tenders had already been called for major works. He further said the state government would raise funds by selling surplus land of 4,000 acres for capital development.

With the announcement of both inner and outer ring roads and Prime Minister Narendra Modi relaunching Amaravati development works recently, the demand for lands in the capital region has gone up. The demand is expected to go up further.

As the Chief Minister has put a deadline of three years for the development of Amaravati, officials of the Capital Region Development Authority (CRDA) are looking at many options to mobilise funds for capital construction. Narayana stated that land value in Amaravati would appreciate further post the development of international airport, sports city and industrial city, which would be taken up after acquiring additional land through land pooling. In the past, the state government acquired over 33,000 acres of land through land pooling for Amaravati capital.

On May 2, the Prime Minister relaunched Amaravati capital development works and laid foundation for projects worth Rs 49,000 crore. The state government had already raised Rs 31,000 crore for the capital construction from the World Bank, Asian Development Bank and Hudco. However, more funds are required to complete the construction in three years as announced by the Chief Minister.

While congratulating the ministers and MLAs for the success of Prime Minister’s programme in Amaravati, Naidu set a target to Minister Narayana to complete the Amaravati development works in three years. The minister assured the Chief Minister that the construction would be completed as per the schedule set by the Chief Minister.