Hyderabad: The Centre has cut down by 50 per cent, the World Bank loan proposed by the AP Capital Region Development Authority for creating infrastructure in the capital city Amaravati area.
The CRDA had sent a proposal through the state government to the Centre seeking to avail Rs 7,000 crore loan from the World Bank. But the Centre in a communication to the state government said that it will allow only for Rs 3,500 crore loan from World Bank.
The CRDA had pooled about 33,000 acres of land from farmers and others for the construction of the capital city Amaravati.
From this, the CRDA has to return about 7,000 acres to the land owners as residential and commercial plots after developing it. The CRDA wants to create infrastructure facilities in about 19,000 acres of capital city area.
The CRDA has estimated that for the creation of infrastructure facilities like roads, water, power etc., it will cost Rs 1 crore per acre.
