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CRDA to raise Rupees 7,300 cr for infra, other projects
The CRDA estimated that Rs 30,000 crore will be required for providing infrastructure and other development works for capital but it is facing a deficit of Rs 7,300 crore, for which it is planning to mobilise the funds in various ways. The CRDA officials placed the plans of the funds mobilisation before Chief Minister N Chandrababu Naidu during the weekly review meeting held at the Secretariat at
Amaravati: The Capital Regional Development Authority (CRDA) is gearing itself to mobilise a whopping Rs 7,300 crore through various means for providing infrastructure and executing development works during the coming three years in capital Amaravati.
The CRDA estimated that Rs 30,000 crore will be required for providing infrastructure and other development works for capital but it is facing a deficit of Rs 7,300 crore, for which it is planning to mobilise the funds in various ways.
The CRDA officials placed the plans of the funds mobilisation before Chief Minister N Chandrababu Naidu during the weekly review meeting held at the Secretariat at Velagapudi on Tuesday.
According to the officials, the CRDA can mobilise Rs 22,700 crore through various allocations including Rs 7,500 crore from HUDCO, Rs 3,200 crore from various companies, Rs 2,500 crore from Centre’s grant, Rs 100 crore from Smart City funds, Rs 400 crore from VIT, SRM and other institutions for allocating lands and Rs 9,000 crore from State budget allocations.
For the deficit amount of Rs 7,300 crore, the CRDA is trying to mobilise them from various means. The officials informed the Chief Minister that through seven various means, the deficit amount can be mobilisd, which includes Rs 500 crore of loan
which will be taken for the construction of housing project basing on the funds of government officials house rent allowance, Rs 1,000 crore from the structured bonds which will be mobilised through government offices rents and Rs 1600 crore from PPP mode and Rs 1500 crore from additional budget allocations, which comes to Rs 4,600 crore.
Other sources of mobilisation means include Rs 2,000 crore under Collective Investment Scheme, Rs 500 crore through issuing convertible bonds, Rs 1,000 crore through Masala bonds.
The officials estimated that Rs 1,500 crore of budgetary allocations are required every year for the first 11 years. The Chief Minister asked them to approach the financial institutions which provide long term loan facility and agree for moratorium during the construction period.
The Capital Regional Development Authority (CRDA) is gearing itself to mobilise a whopping Rs 7,300 crore through various means for providing infrastructure and executing development works during the coming three years in capital Amaravati.
The CRDA estimated that Rs 30,000 crore will be required for providing infrastructure and other development works for capital but it is facing a deficit of Rs 7,300 crore, for which it is planning to mobilise the funds in various ways.
The CRDA officials placed the plans of the funds mobilisation before Chief Minister N Chandrababu Naidu during the weekly review meeting held at the Secretariat at Velagapudi on Tuesday.
According to the officials, the CRDA can mobilise Rs 22,700 crore through various allocations including Rs 7,500 crore from HUDCO, Rs 3,200 crore from various companies, Rs 2,500 crore from Centre’s grant, Rs 100 crore from Smart City funds, Rs 400 crore from VIT, SRM and other institutions for allocating lands and Rs 9,000 crore from State budget allocations.
For the deficit amount of Rs 7,300 crore, the CRDA is trying to mobilise them from various means. The officials informed the Chief Minister that through seven various means, the deficit amount can be mobilisd, which includes Rs 500 crore of loan
which will be taken for the construction of housing project basing on the funds of government officials house rent allowance, Rs 1,000 crore from the structured bonds which will be mobilised through government offices rents and Rs 1600 crore from PPP mode and Rs 1500 crore from additional budget allocations, which comes to Rs 4,600 crore.
Other sources of mobilisation means include Rs 2,000 crore under Collective Investment Scheme, Rs 500 crore through issuing convertible bonds, Rs 1,000 crore through Masala bonds.
The officials estimated that Rs 1,500 crore of budgetary allocations are required every year for the first 11 years. The Chief Minister asked them to approach the financial institutions which provide long term loan facility and agree for moratorium during the construction period.
