Rs 1000 cr bonds to be floated for development of Amaravati capital

Amaravati: The Capital Region Development Authority led by Chief Minister N Chandrababu Naidu decided to float bonds to a tune of Rs 1000 crore for development of Amaravati capital.

The Chief Minister said the lay outs in land pooling lands in capital region should be developed in three phases.

The Chief Minister addressed a review meeting on capital development at secretariat on Wednesday. The CRDA commissioner Ch Sreedhar informed the Chief Minister that tenders would be called for development of lay outs soon as the HUDCO coming forward to release Rs 7,500 crore A�for capital development. He said utilization certificate was submitted for Rs 1050 cr released from central government.

The Chief Minister said that some people are trying to create hurdles for development of capital by entering into tender process. He said that the state government would act tough on such forces.

The Chief Minister directed the officials to give priority for students of architecture, IIT and IIM in internship policy in CRDA development programmes. He said the young generation should be made part of Amaravati capital development. He said that the state govt would develop the lay outs in land pooling lands and hand over the plots to farmers. He said that the state govt would bear the cost of stamp duty and registration charges. The meeting decided to develop 6.84 sq km start up area in Amaravati in Swiss challenge system.

The Chief Minister said final designs of both inner and outer ring roads of Amaravati should be submittedA�in three months. He asked the officials to encourage educational institutions coming forward to set up their institutions in Amaravati to set up some of the institutes in Visakhapatnam and Tirupati. He said Amaravati, Visakhapatnam and Tirupati should be developed as educational hubs.

Krishna river front development

The consultant appointed for river front development gave a presentation on development of ghats and canals and the proposed entertainment centres on river banks. They informed the Chief Minister that business hotels, convention centre, service apartments, multiplex food courts, central park, greenery, cycle tracks will come up on the river front. The Chief Minister asked the consultants to add some more attractions for the development of river front and submit fresh proposals.

Minister P Narayana, Chief Ministera��s special chief secretary Satish Chandra, CRDA chief secretary Ajay Jain Capital development Authority chief managing director Lakshmi Parthasarathi and others were present.

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