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HUDA To Raise Rs 5000 Crore For Projects
Posted by Pradeep Sadanapalli | May 14, 2007 | 404 views
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Loading ...Of the Rs 5,000 crore it plans to raise this year, the Hyderabad Urban Development Authority (Huda) would give the state government Rs 2,200 crore towards ‘resource mobilisation’.It would spend about Rs 1,000 crore for land acquisition and civil works for the Outer Ring Road (ORR) project, Rs 450 crore for construction of the P V Narasimha Rao elevated expressway and another Rs 500 crore for other engineering works.
The city urban body also plans to take up small-sized projects worth Rs 1,000 crore.
Huda has 2,000 acres of land in Jawahar Nagar in Shamirpet, 450 acres in Miyapur, 150 acres in Shamshabad abutting the Bangalore highway and along the ORR near the upcoming international airport.
It owns over 1,000 acres of land in Patancheru, Ramachandrapuram mandals and Medak district where the proposed IIT is to come up.
“Huda would take up projects like star hotels, townships along the ORR and other areas, commercial and apartment complexes during the year to meet the expenditure. Of over 4,000 acres of Huda land, nearly 2,000 acres would be sold outright or leased for these projects lined up to meet the expenditure,” Huda vice-chairman Jayesh Ranjan said.
Huda would be looking to raise Rs 5,000 crore mostly through various kinds of townships like NRI and mini-townships.
SOURCES:
Times Of India
Topics: Real Estate, Infrastructure |
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