Amaravati: Naidu Pushes Fast-Track Capital Works, Eyes Rs 1 Lakh Crore Asset

Vijayawada: Chief Minister N. Chandrababu Naidu is taking decisive steps to realise the dream of Amaravati as a thriving capital, accelerating construction works and envisioning the city as a Rs 1 lakh crore asset.

The state government has renewed momentum towards building Amaravati, with Naidu outlining a clear vision of the capital as a self-financing project.

Highlighting the government’s 5,000-acre land bank, Naidu said that even at a conservative estimate of Rs 10 crore per acre, the land is valued at Rs 50,000 crore. With future appreciation to Rs 20 crore per acre, the value could touch Rs 1 lakh crore.

Drawing parallels with Hyderabad and Bengaluru, Naidu stressed development is a continuous process. The CM pointed out that Hyderabad’s growth—driven by infrastructure like the Outer Ring Road, international airport, and IT economy—accounted for nearly 70 per cent of Telangana’s revenue, positioning it as a model for Amaravati.

On the ground, the AP capital region is witnessing a surge in activity, with over 20,000 workers engaged round-the-clock. Major infrastructure works, including roads, reservoirs and canals, are progressing swiftly. Residential towers for legislators, officials and employees, along with housing for judges, ministers and senior bureaucrats, are nearing completion.

Iconic structures such as the assembly, high court, secretariat and heads of department offices are being fast-tracked, with a two-year completion target. The CRDA complex and allied buildings, constructed using prefabricated technology, are already operational.

The upcoming Quantum Valley project, spread over 50 acres, is expected to house a quantum computer by the end of the year.

Following the 2024 elections, the alliance government placed Amaravati’s reconstruction at the top of its agenda, aiming to revive stalled works and restore damaged infrastructure. A three-year roadmap has been drawn up to complete Phase I, with special focus on rebuilding farmers’ confidence and ensuring time-bound execution through a high-power committee.

Connectivity remains central to the plan, with an Outer Ring Road set to link seven national highways, boosting regional balance and economic integration. The capital is also being designed as a ‘Blue-Green City,’ blending sustainability with urban growth.

In the next phase, over 16,600 acres are being pooled across seven villages, while about 5,000 acres have been earmarked for an international airport. Plans are under way for a modern railway station, sports city, smart city infrastructure and an inner ring road, positioning Amaravati as a future global metropolis capable of hosting international events.

Urban development minister, Ponguru Narayana, said the residences of public representatives and officials in Amaravati are almost complete and they would be handed over to the general administration department in the next few days.

The towers for MLCs and IAS officers would also be completed by the month-end. The quarters of Group 1, Group 2 and Group D officers would be completed within another two months and handed over to the government.

Ponguru Narayana claimed that during the land pooling in 2014-19, the price of undeveloped land was Rs 7 lakh to Rs 25 lakh per acre. Currently, the price is Rs 10 crore per acre and the rates would increase in the future. “This means it would cost Rs 20 crore per acre. At least Rs 50,000 crores will come to CRDA. By selling this land, we would pay off the debts with these funds.”

He affirmed that Amaravati's debts would not be cleared with the taxes paid by the people.