In order to raise money for the implementation of welfare programmes in the state, the cash-strapped andhra pradesh government, led by chief minister Y S jagan Mohan reddy, has tried every available option, including selling liquor bonds and requesting permission from the federal government for additional borrowing on the open market. The state administration is now preparing to sell the amaravati lands that the previous telugu desam party government had purchased through land pooling for the construction of the capital city because it has already exceeded its borrowing limitation.

As part of the plan, the government has given the ap capital Area Development Authority (APCRDA) permission to put up for auction 248.34 acres of land it has purchased in the amaravati capital region (GO 389). The government has set a minimum price of Rs 10 crore per acre for these properties, meaning that the auction of these lands would bring in at least Rs 2,480 crore. The government would receive more funds if it won the auction with a higher bid.

A little more than 100 of these 248.34 acres were granted to B R Shetty Medical City, and the remaining 148 acres went to Kings College, London. The state government already terminated the contracts with these businesses and reclaimed the property. These lands will now be offered for sale at auction. At a recent meeting called by the chief minister Y S jagan Mohan reddy to evaluate the urban development ministry, a decision was made to this effect.

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