Reddy said that this initiative was to pay respect to the great emperor, who maintained trade relations with other countries.
He added that S M Krishna, Minister for External Affairs had already assured help and the tourism department would also provide 235 acres of land.
The celebration would begin by offering pooja to Saint Vidyaranya, who was instrumental in establishing the empire at Hampi.
On Monday, Nov 3, a function would be organised in Bangalore, which would be attended by dignitaries from throughout India. The event would be concluded with cultural programs on 29 Jan 2010 at Hampi..
Prime Minister Manmohan Singh would be invited for the last day programs. Reddy added that government school students would undertake a state funded educational tour to Hampi during the celebration.
The event would be near Kannada University campus, Hampi, where a statue of Krishnadevaraya would be inaugurated. A replica of Vijaynagara empire would also be created.