VIJAYAWADA: The Cabinet Sub-Committee on allocation of lands to government and private firms under the ambit of the Capital Region Development Authority (CRDA) has decided to give 1,000 acres of land to as many as 29 institutes.The Cabinet Sub-Committee headed by Finance Minister Yanamala Ramakrishnudu, which met at the Interim Government Complex in Velagapudi on Friday, fixed the minimum cost of an acre land as `50 lakh and the maximum cost as `4 crore.
The State government had already given 100 acre each to Vellore Institute of Technology and SRM University and 150 acres to Amrita University.While the educational and health institutes were listed under one category, government institutes, banks, hotels and other commercial establishments were listed in another category. The State government corporations were listed in a separate category and the prices of lands will be depending on the category the particular institute comes under.
Allocated lands will be handed over to the concerned firms only after paying the cost of the land.
Human Resource Development Minister Ganta Srinivasa Rao, Special Chief Secretary (CRDA) Ajay Jain, Finance department secretary M Ravichandra, CRDA Commissioner Ch Sreedhar and Special Commissioner V Rama Mohan Rao participated in the meeting.