AP Cabinet nod for land to Kanchi Kamakoti mutt, SVIMS

Hyderabad, Oct 23 (UNI) The Andhra Pradesh cabinet today approved the allocation of 150 acres of land to the Kanchi Kamakoti mutt and Sri Venkateswara Institute of Medical Sciences for setting up of a medical college on the outskirts of Tirupati.

Information Minister A Ramanarayana Reddy told reporters here that the allocation was made after fixing the market rate for the land at Rs 90,000 per acre.

The cabinet also approved extension by fifty years, the lease with the Exhibition Society for 24.67 acres of land from the year 2002.

Fixing the annual lease rent at Rs 10,000 per acre, the government decided to hike the lease rent by five per cent every five years, he added.

UNI