HMDA plans land auction to fund Uppal, Mokila projects
HYDERABAD: The Hyderabad Metropolitan Development Authority has begun preparations for another round of land auctions to mobilise funds for flyovers, elevated corridors, road widening and Metro Rail acquisition costs.
Officials said the move follows a strong response to the online auction held at Kokapet Neopolis in November. Encouraged by the demand, the authority is planning fresh online bidding to support several infrastructure projects being implemented directly by HMDA.
Plots were earlier auctioned in Uppal Bhagath and Mokila. The remaining plots in these localities will be put up for online bidding in February, officials said. In a phased manner, plots in HMDA layouts at Inmulnarva, Lemoor and Turkayamjal will also be auctioned.
Funds key to project execution
The state government has recently accorded administrative approval for several new HMDA projects. With construction costs involved, officials are working on mobilising funds through a mix of loans and internal resources. As part of this strategy, HMDA has decided to monetise land assets.
One of the major projects includes construction of the Budvel trumpet interchange to connect Radial Road-2 with the Outer Ring Road at the 143rd km. The project is estimated to cost around ₹488 crore.
An elevated corridor of about 9 km is also proposed from Banjara Hills Road No.12 to Shilpa Layout, with an estimated cost of ₹1,656 crore.
Metro payments and road expansion
With the government set to take over Hyderabad Metro Rail, around ₹2,000 crore payable to Larsen & Toubro under the agreement may be routed through HMDA. These funds are expected to be used for road expansion and infrastructure development.
In addition, ₹110 crore has been earmarked for development of a 3.57 km stretch from MGIT on Shankarpally Road to Manikonda. Road widening is also planned on the left side of the Outer Ring Road from Nankramguda to Gachibowli, with a 75 metre right of way, at an estimated cost of ₹26.50 crore.
Large funds are also required for ongoing elevated corridor works from Paradise to Dairy Farm and from JBS to Shamirpet, officials said.
