VIJAYAWADA: YSRCP State Coordinator Sajjala Ramakrishna Reddy has strongly contradicted Chief Minister N. Chandrababu Naidu’s assertion that Amaravati is a “self-financed project,” arguing that the claim collapses under basic financial scrutiny.
Sajjala pointed out that Chandrababu claimed the government holds a 5,000-acre land bank valued at over Rs 50,000 crore, assuming Rs 10 crore per acre. However, Sajjala cited Chandrababu’s own land purchase records, which show acquisitions at Rs 7,500 per square yard — translating to about Rs 3.63 crore per acre. Official SRO records indicate even lower values at around Rs 6,000 per square yard, or roughly Rs 2.91 crore per acre. “Even if we take Chandrababu’s own rate, selling the entire 5,000 acres would fetch only about Rs 18,000 crore, not Rs 50,000 crore,” Sajjala said, adding that contracts awarded in Amaravati have already crossed Rs 50,000 crore.