Telangana rolls out ₹10,000-cr infrastructure ventures
The Telangana government has decided to toll out ₹10,000 crore infrastructure projects for which funds are being generated by auctioning prime properties and government lands. The funds would be invested in completing the pending irrigation and road projects and also to continue flagship schemes without any interruption. The CM said in a statement that the funds will also be spent on completing KCR‘s pet Kaleshwaram lift irrigation and Palamuru Ranga Reddy projects. The state administration has directed Hyderabad Metropolitan Development Authority (HMDA) to identify land parcels and speed up the auctioning process. Since the prices of land parcels are moving northward, the government hopes to get good returns during auctioning. HMDA on its part has decided to auction nearly 150 acres of land at the up-market Kokapet in Rajendranagar, which is likely to fetch around ₹5,000 crore. The Uppal Bhagat layout has also been readied for the second round of auctions. Apart from Hyderabad, the government has also decided to focus on tier-two cities like Warangal, Nizamabad and Karimnagar and plans are afoot to equip these areas with facilities matching global standards. The government is targeting big layouts and plots suitable for big IT firms and other mega residential ventures, which would help them raise money at one ago.
📅Published on:
20 September 2019
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