realestate

Amaravati's transformation into a real estate hub under Naidu's leadership?

Opposition parties, led by YSR Congress and activists like E A S Sarma, accuse TDP president of corruption.

A
maravati, the dream capital of Andhra Pradesh, has been shrouded in controversy since its inception. Critics, including opposition parties and social activists like E A S Sarma and IYR Krishna Rao, have long accused Chief Minister N Chandrababu Naidu of transforming the city into a lucrative real estate hub.

    While the core capital area remains intact, comprising essential government institutions and residential quarters for officials, the surrounding 34,000 acres are up for grabs. The Naidu government has allocated some land to central institutions and other establishments, but this accounts for only a fraction of the total area.

    Farmers who surrendered their land for the capital project were offered plots for residential and commercial use across several thousand acres. However, the majority of the land is being sold to private entities, including educational institutions, hotels, IT companies, and businesses – essentially turning Amaravati into a real estate goldmine.

    Recent reports suggest Naidu's appetite for land acquisition remains insatiable. He plans to acquire an additional 30,000 to 40,000 acres under the guise of infrastructure projects, including an international airport. The Andhra Pradesh Capital Region Development Authority (APCRDA) has been directed to identify suitable land in villages within the core capital zone.

    While officials claim the land will be used for roads and other infrastructure, sources indicate the true intention is to sell it off to generate funds – allegedly to repay loans from the World Bank, HUDCO, and private lenders. This latest plan could unleash a wave of corruption, potentially transforming Amaravati into India's largest real estate venture.

Amaravati, Andhra Pradesh's capital, transforms into a real estate hub under N Chandrababu Naidu.