Speculation’s Spatial Terms: Imminence and Inevitability in Amaravati

Abstract

This paper considers the interruption of Amaravati, a project for a new state capital in southern India. I argue that the terms and conditions of Amaravati’s financing had specific spatial consequences at multiple scales. The discussion traces the deterritorialization of an agrarian landscape into speculative real estate through so-called “land pooling.” It considers the new technologies and modes of governance that facilitated this speculation and catalyzed an “all-over, all-at-once” infrastructural strategy that organized construction work synchronously on scattered sites spread across 217 square kilometers of land. The expedited construction of government housing blocks—using monolithic in situ casting techniques—further supported the financialized terms of development, emphasizing the imminence and inevitability of the future capital as a means of securing private investment from around the world. As Amaravati’s ultimate demise suggests, the abstractions of contemporary global finance can be grasped through a close reading of their architectural manifestations.