Amaravati Development Underway with Major Investments

Amaravati, the capital city of Andhra Pradesh, is undergoing significant development spearheaded by Chief Minister N Chandrababu Naidu. The development plan emphasizes eco-friendly infrastructure, with design input from Singapore.

Ongoing projects are valued at ₹37,702 crore, and tenders for an additional ₹16,871 crore are planned. This brings the total project cost to approximately ₹64,000 crore.

The Central Government has disbursed over Rs 4,200 crore to the project. Funding also includes USD 205 million received from the World Bank. The World Bank and the Asian Development Bank have committed a total of USD 1,600 million for the first phase of development.

NCC has secured a substantial infrastructure contract worth Rs 2,129.60 crore. Andhra Pradesh has also entered into a loan agreement with HUDCO for Rs 11,000 crore to support construction activities in the new capital city.

Real estate prices in Amaravati have reportedly seen a surge, reflecting investor confidence in the project. Anand Mahindra has advocated for the development of an Indian city modeled after Shenzhen, potentially influencing the trajectory of Amaravati's growth.