Foundation for SRM University in Amaravati on November 24

Vijaywada: Andhra Pradeshchief minister Chandrababu Naidu will lay the foundation stone to SRM University in Amaravati on November 24. Explaining the latest developments here on Tuesday, CRDA commissioner Cherukuri Sridhar said land to SRM will be given in two phases of 100 acres each. "SRM will setup university campus with 17,000 students by end of first phase in five years and 52,000 students by the end of second phase in 10 years. This campus would include a medical college and university," he said.

Earlier in the day, the state council of ministers approved for lease rate stabilisation of 14.2 acres belonging to Sri Durga Malleswara Swami Varla Devasthanam in which PB Siddhartha College is being run. The government decided to stabilise the price to Rs 1.5 lakh per acre annually with an increment of five percent every three years. With this revision, PB Siddhartha has to pay Rs 21 lakh annually for the land hereon as against the Rs 1 lakh being paid till now.