New Andhra Pradesh capital to have capital complex over 7,000 acres
The state Budget for FY 2015-16 proposes allocation of Rs 3,168 crore for urban development, including development of the capital city.

The state Budget for FY 2015-16 proposes allocation of Rs 3,168 crore for urban development, including development of the capital city.
"The total land required is being secured by obtaining consent from the land owners of capital city consisting of about 33,252 acres...87 per cent (of owners) have given consent for pooling land," the Budget, presented today in the Legislative Assembly, said.
Of this, 50 per cent land will be used for 'common infrastructure'. About 25 per cent will be returned to the land owners in the form of developed plots.
"This leaves about 7,000 acres of land with the state for constructing its capital complex as well as bringing investment to provide sustainable jobs for the residents of the capital city," the Budget said.
Bifurcation of Andhra Pradesh necessitated development of new capital; it would come up near Vijayawada.
"The new capital will be a place for creativity and innovation. Sustainability in terms of infrastructure, environment, equity and safety will make it an ever-green capital. Such a city will require meticulous planning for the very long term infrastructure needs of future generations," the Budget said.
The state government has formed Capital Region Development Authority which is entrusted with the task of paying the farmers compensation for the land.
The government gratefully acknowledges farmers' contribution, Finance Minister Yanamala Ramakrishnudu said.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.