Amaravathi, March 16 -- In a significant development, the Housing and Urban Development Corporation (HUDCO) has extended a massive Rs 11,000 crore loan to the Capital Region Development Authority (CRDA) for the construction of Amaravathi, the state capital of Andhra Pradesh, said the official statement.

This agreement was signed in the presence of Chief Minister Nara Chandrababu Naidu at his residence in Undavalli and was attended by Minister for Municipal Administration and Urban Development (MAUD), P Narayana, HUDCO CMD Sanjay Kul Shreshtha, and other officials.

As per the agreement, HUDCO will provide a loan of Rs11,000 crore for the construction of the state capital. The loan is part of the Rs 26,000 crore needed for constructing Am...