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CRDA Receives Green Signal from AP Govt. for Amaravati Land Auction

Posted by luckypropertywala_sxyoj4 on June 27, 2022

The Andhra Pradesh (AP) state government has finally said that AP-CRDA (Capital Region
Development Authority) can proceed with the auction of lands in Amaravati & take up
infrastructure works as per the master plan. The govt. has set an upset price of ₹10 crore per acre
and permitted auction of around 248 acres of land, with the aim to collect ₹2,480 to ₹2,500
crores. The state government is expected to plan and sell/auction more lands in a phased manner
after receiving a great response to the initial round of auction.
AP Chief Minister Y.S. Jagan Mohan Reddy recently conducted a review meeting of the
developmental works proposed in the AP capital city region with CRDA officials and municipal
administration department officers. At the review meeting, officials explained to the CM
regarding the affidavit filed in the High Court which promises to take up developmental works
proposed according to the AP-CRDA Master Plan in a phased manner. The state govt. had
promised to take up all the developmental work in the CRDA Master Plan after the High Court
verdict to implement the master plan without any deviation.
The state govt. of AP had sought to secure a loan from a consortium of banks to begin
developmental works which were stalled after the YSRCP government was elected to power in

  1. The state government had held discussions with the banks to secure a loan of ₹3,000 crores
    to take up first phase development works which included completion of secretariat, legislators’ &
    IAS officers’ quarters.
    The plan also included completion of infrastructure works in the Land Pooling Scheme (LPS)
    layouts granted to farmers who parted with their lands for capital city region development. The
    state govt. was yet to complete roads, drains & street lighting work in these LPS layouts before
    they could begin registration of the plots to beneficiary farmers.
    The consortium of banks agreed to lend the loan amount sought by AP-CRDA only after
    receiving counter guarantee from state govt. in addition to mortgaging the lands in Amaravati.
    The banks had refused to grant loans against mortgaged lands in Amaravati as they were
    apprehensive about appreciation of market land value in Amaravati because of the inconsistent
    policies of the state govt.
    The state govt. refused to give counter guarantee to the banks which meant that the banks pulled
    out of the loan discussions. Now since the loan was not secured, the state government has
    decided to sell/auction lands in the capital city area to begin developmental works according to
    the CRDA Master Plan. The current YSRCP state govt. in AP was taken to court after it
    announced different plans for the state’s capital due to which the High Court made the govt. to
    promise and begin development work according to the original master plan.

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