HMDA mortgages 10 parcels of public lands to raise ₹10,000 crore for infra works
Funds will be used for construction of two greenfield radial roads, respectively from Raviryal exit of the Outer Ring Road to Amangal, and from Shamshabad to Pargi and two elevated corridors respectively on National Highway 44, and State Highway 01
The Hyderabad Metropolitan Development Authority (HMDA) is raising ₹10,000 crore through loans, by mortgaging 10 parcels of high-value public lands in Hyderabad. The total area of the mortgaged lands is 817 acres, with the largest parcel being 105 acres in Miyapur mandal. The funds raised will be used for constructing greenfield radial roads and elevated corridors on National Highway 44 and State Highway 01, among other infrastructure projects.
The total cost of these projects is estimated at ₹24,000 crore. The Bharat Rashtra Samithi (BRS) party has raised concerns about the mortgage, questioning the valuation of the lands and how the funds will be utilized. The HMDA Commissioner Sarfaraz Ahmed stated that the lands were mortgaged as security for obtaining loans for infrastructure projects, and the valuation was determined by a property consultant Cushman & Wakefield, not based on government guidelines.
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