CRDA to mortgage lands after land pooling!

The Andhra Capital Region Development Authority (CRDA) will have all the rights on the land pooled for the Capital Construction. According to the agreement between landowners and CRDA, land losing farmers will get the promised share of developed land within nine months after developing it.

CRDA will have all the rights on land once the farmers and they can mortgage this land and raise capital as it will have the power to raise loans from the government or mobilise resources by issuing debentures or bonds.

CRDA will use this money for development of the capital and also to pay the yearly compensation to land losing farmers which is around 150 Crore per year. However the government is yet to take any decision on what to do with lands after the pooling. Most of the constructions in the AP capital will be built on Private Public Partnership Model. About 30000 acres of land will be pooled for the capital.