APCRDA Secures Loan from HUDCO for Amaravati Development

19 Mar 2025 CW Team

The Andhra Pradesh Capital Region Development Authority (APCRDA) has signed an agreement with the Housing and Urban Development Corporation (HUDCO) for a $1.32 billion loan to develop Capital Amaravati. The agreement was formalized at Chief Minister N Chandrababu Naidu's residence in Undavalli.

The event was attended by HUDCO CMD Sanjay Kulshrestha, Director (Corporate Planning) M Nagaraj, Finance Director Daljit Singh Khatri, Vijayawada Regional Chief BSA Murthy, APCRDA Commissioner K Kannababu, Additional Commissioner M Naveen, and Principal Secretary (Municipal Administration and Urban Development) S Suresh Kumar.

According to Municipal Administration and Urban Development Minister P Narayana, the first phase of Amaravati’s development is estimated at $3.12 billion, with a total projected cost of $6 billion.

The World Bank and the Asian Development Bank have already committed $1.8 billion for the project. Additionally, HUDCO has sanctioned $528 million for housing projects in the state.

APCRDA officials are optimistic that the funding from HUDCO will accelerate the development of Capital Amaravati.

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