The News Minute| October 25, 2014| 9.30 pm ISTThe Andhra Pradesh state capital spread over 30,000 acres near Vijayawada will be ready in five years, the state government announced Saturday.Chief Minister N. Chandrababu Naidu, who held a meeting with the members of the Capital Advisory Committee here, said the land will be procured through the land pooling system (LPS).If the landowners refuse to part with the land the government would opt for land acquisition, said an official statement.Under the LPS, 50 percent of the land would be earmarked for common assets. The chief minister directed the committee to expedite the process of land pooling.The land pooling certificate, which would confer transferable rights on the reconstituted land, will be given to the landowner after the notification of the layout plan is issued.The district collectors with respective local legislators and ministers would take the responsibility of convincing landowners for LPS.It was also decided that an additional incentive in the form of Rs.25,000 per acre, escalating at the rate of five percent each year, for a period of 10 years, or till the first transaction, would be given to each landowner.Proposals will also be initiated for the beautification and development of Vijayawada and Guntur.The existing Vijaywada Guntur Tenali and Mangalagiri Urban Development Authority (VGTM-UDA) would be dissolved before the Capital Region Development Authority (CRDA) is notified.IANS