(Image source from: gulte.com)

AP Government mortgages 480 Acre land in Amaravati:- The Andhra Pradesh has no clarity about the state's capital. After the previous government finalized Amaravati as the capital of the state, the YSRCP government introduced three capital rule for the development of the state. The government decided to withdraw the bill again after several courts and the opposition parties slammed their move. The farmers of Amaravati protested for more than a year against the government's decision. Some of the ministers said that the three capital rule will be implemented at a later date. The AP government is tight-lipped for now about the capital issue. A land of 480 acres has been mortgaged by the government of AP without any information. The entire process was completed when the officials have been busy protesting against the new PRC.

The AP government kept the details of the transaction under wraps and there is no information available for now. The officials completed the transaction in two days. The lands belonged to the farmers who donated them for the construction of capital. Some of the land donated is on hold by CRDA and the government is said to have mortgaged the land but the details of the loan is not revealed. The CRDA officials are unavailable to comment on the same. The government also collected the information about the land values from the District Collector of Guntur and the Revenue officials. They also inquired about the registration charges and the market value of the land.

There is a proposal that the government will start repaying the debts from the third year and will close the entire debt in 15 years. Hadco lent a loan of Rs 1250 crores for CRDA for the construction of the capital.