VIJAYAWADA: With uncertainty looming large over Central assistance for the construction of capital Amaravati post the BJP-TDP split, the State government is contemplating to raise funds using the lands given by farmers.
After inviting deposits from the public earlier, Chief Minister N Chandrababu Naidu on Wednesday told the AP Capital Region Development Authority (CRDA) officials to explore the possibility of monetising some parcels of lands pooled by the farmers for capital Amaravati.
In the weekly review meeting, the Chief Minister and CRDA officials brainstormed on the funding required for the construction of capital. "Even though the Centre has not fulfilled its promise to help us in the construction of Amaravati, people are coming forward to provide funds. Apart from this, we should also examine other means of pooling funds. Prepare a strategy on whether some part of the 1,300-acre Administrative city can be used for monetisation," Naidu told the officials.
The CRDA officials, on the occasion, informed the Chief Minister that there is a possibility to monetise 5,020 acres of land in the core capital by reserving it without allocating it for any purpose.
The officials also informed the Chief Minister that Rs 48,115 crore is required for the construction of the new capital and that it is estimated to go past Rs 51,000 crore, considering the interests to be paid.
The CM also approved a multi-pronged funding plan for the next 18 years proposed by the CRDA with the help of consultants. Naidu told the officials to treat the plan as a temporary one and revamp the funding mechanism as and when required. To this, the CRDA officials said that the authority is expected to generate its own revenue in four years.
Naidu also instructed the officials to give priority to the road projects in the capital and wind up the pending land acquisition process. "If there are any legal hurdles, resolve them at the earliest," he told the officials.
Tenders for secretariat, HC soon -- BOX
CRDA commissioner Cherukuri Sreedhar appraised the CM of the progress on the construction of secretariat and high court buildings. "The tenders for the secretariat building will be invited soon in two phases with an initial estimated cost of `2,000 crore. Tenders for high court building will be invited before the end of April," he added.
He also said that Andhra Bank, Vijaya Bank and Indian Bank are providing financial assistance of Rs 2,026 crore for the housing projects.
Convention centre, premium hotels
-- CM Naidu tells officials and contracting firms to shoot videos on the progress of Amaravti works using drones and present them in movie theatres and social media platforms
-- L&T officials presented designs for the proposed multi-purpose convention centre with a capacity of 2,000 people
-- CM suggested that the convention centre be constructed in five acres of land under PPP model
--CRDA commissioner Cherukuri Sreedhar informed the CM that six hotel groups evinced interest to setup three five-star hotels and three three-star hotels in Amaravati
-- Sreedhar said Mahindra and Taj groups agreed to build facilities with 5,000 rooms
-- CM instructed the CRDA to invite more groups as the aim is to have 10,000 rooms
-- CRDA commissioner Sreedhar said 35 electrical vehicles have been approved for a trial run in the capital city
Even though the Centre has not fulfilled its promise to help us in the construction of Amaravati, people are coming forward to provide funds. Apart from this, we should also examine other means of pooling funds. Prepare a strategy on whether some part of the 1,300-acre Administrative city can be used for monetisation -- N Chandrababu Naidu, Chief Minister