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State Bank of India (SBI) has completed a land agreement with the Andhra Pradesh Capital Region Development Authority (APCRDA) for developing a residential complex for its staff in Amaravati. The project will come up on 2.05 acres at Ainavolu and is planned with a built-up area of 4.46 lakh square feet. SBI plans to invest around INR 214 crore in the development. Construction is scheduled to begin in June 2027, with completion targeted for 2028. The project is part of SBI’s wider expansion in Amaravati, where it is also developing a regional office.
State Bank of India (SBI) has completed the land agreement with the Andhra Pradesh Capital Region Development Authority (APCRDA) for its proposed staff residential complex in Amaravati.
The agreement was completed on Thursday evening, with the relevant land documents handed over at the Sub-Registrar’s Office. APCRDA Estates Department Joint Director Zubin Roy handed over the documents to SBI AGM (P&E – Premises & Establishment) G. Ramakrishna as part of the agreement process.
The residential complex is planned on 2.05 acres of land at Ainavolu. SBI is developing the project to provide accommodation for its employees working in Amaravati.
The bank has estimated the project cost at around INR 214 crore. The residential complex will have a built-up area of approximately 4.46 lakh square feet. Construction is scheduled to start in June 2027, while completion is targeted for 2028.
The residential project is also linked to SBI’s ongoing expansion in Amaravati. The bank is developing its Regional Office on 3 acres in the Lingayapalem–Uddandarayanipalem area. The foundation stone for the office building was laid last November by Union Finance Minister Nirmala Sitharaman.
The development of both the regional office and staff housing comes as Amaravati continues to be developed as Andhra Pradesh’s administrative capital. The government has been working on infrastructure and institutional development in the capital region, with the aim of establishing Amaravati as a major administrative and financial centre.
For SBI, the proposed residential complex will provide dedicated housing for staff as its operations in Amaravati expand. With construction planned to begin in June 2027, the project is expected to add to the residential infrastructure being developed alongside government and institutional facilities in the capital region.
Source APCRDA
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