Amaravati: The development process will soon start in the new capital of Amaravati with the allocation of land to various institutions. The CRDA will allot 25 acres for a Bio-diversity Museum and Biodiversity Experimental Park in Sakhamuru village in the Amaravati capital region. It is also planning to establish an Amaravati heritage conservation town in the new capital.
The government has already decided to allot 200 acres to SRM University, and 150 acres each to the Indo-UK Medical Institute and Hospital and the Vellore Institute of Technology (VIT) at '50 lakhs an acre, and to another 25 companies seeking land to start their projects in the new capital.
Amaravati Capital Region
Sakhamuru is being proposed to be developed as a Knowledge City in the Amaravati capital’s master plan and the CRDA is planning to start land development work to invite these institutions to establish their operations.
A senior official in the CRDA said that ground clearance and land division would be started on-ce the process of reconstituted/returnable plots was completed.
The Tirumala Tirupati Devasthanams also ask-ed for 25 acres for the co-nstruction of a Venkateswara temple, and a team from the temple administration has selected a site at Rayapudi on the banks of the Krishna river.
According to the CRDA, Amity University will invest Rs 425 crores in its campuses in Amara-vati and Visakhapatnam which will be able to take in nearly 11,000 students in the next 10 years. The VIT will invest Rs 3,400 crores in the one it is planning in Amaravati, looking at a prospective student intake of 32,000 in the next 10 years.
Industrialist and market analyst S. Murugesh said the government was offering land at subsidised rates, such as Rs 50 lakh per acre, against the market prices of Rs 60 lakh to Rs 1 crore according to the area, to local, national and international companies.
He said the growth of new capital depended on government policies: if the AP government continued its liberal policies then Amaravati would surely become a global economic centre in the future in the next five to 10 years.
