Realty matters: 1 acre of land costs a crore in Andhra Pradesh capital region

Hyderabad: The Andhra Pradesh government has fixed the price of land in the new capital city region at Rs 1 crore per acre. The government has asked all departments to send their proposals regarding how much money will be required to construct their offices in the capital, keeping in mind the Rs 1 core-per-acre cost of land.

Accordingly, proposals will be sent to the Centre for fund allotment. The Andhra Pradesh department’s proposal states that it needs 500 acres to construct the Andhra Pradesh police academy building and other office buildings. The government, however, has made it clear that it would not be possible to allot 500 acres in the capital.

• Rs 1 crore per acre for land in Andhra Pradesh capital region
• 500 acre sought by police academy
• Rs 10 lakh per acre land to be allotted for police department due to nonavailability in capital