News

"APCRDA and HUDCO Sign Rs 11,000 Crore Loan Agreement for Amaravati Development".

Banking & Finance | Dated: 18 Mar 2025

In March 2025, the Andhra Pradesh Capital Region Development Authority (APCRDA), based in Vijayawada, Andhra Pradesh (AP), and the Housing and Urban Development Corporation Limited (HUDCO), based in New Delhi, under the Ministry of Housing and Urban Affairs (MoHUA), signed a Rs 11,000 crore loan agreement for the construction of Amaravati, the greenfield capital city of AP.

🎯 Key Highlights:

- The Rs 11,000 crore loan is part of the Rs 26,000 crore required for Phase-1 of Amaravati's construction. This loan aims to bridge the funding gap for the development of Amaravati, expediting the construction of AP's new capital city.
- The agreement was signed by Nara Chandrababu Naidu, the Chief Minister (CM) of AP, in the presence of P Narayana, the Minister for Municipal Administration and Urban Development (MAUD) of AP, Sanjay Kulshrestha, the Chairman and Managing Director (CMD) of HUDCO, and other officials.

💡 Other Important Facts:

(i) The total estimated cost for Amaravati's development is Rs 50,000 crore.
(ii) The World Bank (WB) and the Asian Development Bank (ADB) have committed Rs 15,000 crore for the project.
(iii) Additionally, HUDCO has sanctioned Rs 4,400 crore for Township and Infrastructure Development Corporation (TIDCO) housing projects in AP.

📚 Test Your Knowledge:

Recently, how much loan was signed by the APCRDA and HUDCO for the development of Amaravati?

Correct Answer: 1,000 crore

🚀 Quick Recap:

About Housing and Urban Development Corporation Limited (HUDCO)

Chairman and CMD : Sanjay Kulshrestha
Headquarters : New Delhi