HUDCO sanctions Rs 110 billion for Amaravati Greenfield Capital

The Housing and Urban Development Corporation Ltd (HUDCO), a Navratna central public sector enterprise, has committed Rs 110 billion in funding for the construction of the Amaravati greenfield capital city in Andhra Pradesh, the state government announced on Monday.

Municipal Minister P. Narayana, during a visit to New Delhi, held discussions with HUDCO CEO Sanjay Kulshrestha regarding the state’s development plans for Amaravati. Following the meeting, HUDCO expressed confidence in the project and agreed to extend the loan to the Andhra Pradesh Capital Region Development Authority (AP CRDA) to support the city’s construction, according to an official release. (ET)

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Additionally, new offices will be set up at Yelahanka and in three other locations.

HUDCO to lend Rs 110 billion for Amaravati greenfield project

The Amaravati Phase-1 project requires a total of Rs 260 billion.

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This process will continue for the duration of the land acquisition efforts.