HUDCO and CRDA sign agreement for Rs. 11,000 Crore capital construction loan

In a significant development for the construction of the new capital, an agreement was signed between the Housing and Urban Development Corporation (HUDCO) and the Capital Region Development Authority (CRDA) in the presence of Andhra Pradesh Chief Minister Nara Chandrababu Naidu. The event took place at the Chief Minister's residence in Undavalli and was attended by Minister Narayana, HUDCO CMD Sanjay Kul Shrestha, along with officials from the municipal department.

Under this agreement, HUDCO will provide a substantial loan of Rs. 11,000 crore aimed at facilitating the capital's construction. The approval for these funds was granted during a HUDCO board meeting held in Mumbai on January 22. Today's signing formalizes the commitment to move forward with the development project, marking a crucial step in the establishment of the state capital.