Hyderabad: After a delay of seven long years, the Hyderabad Municipal Development Authority (HMDA) seems to have almost shelved the mega infrastructure project termed as Techno City at Tellapur. Authorities said another mega project Discovery City at Srinagar (near Kandukur, Shamshabad) would be most likely to be put on hold as the municipal authorities till date had not acquired the required land for the project. The HMDA had promised to hand over 400 acres for the township project, but handed over a mere 100 acres and asked private agencies to develop the integrated township at Tellapur.
The Tellapur integrated township located on the city’s outskirts ran into trouble with real estate firm Tishman Speyer asking the Telangana government to either allow it to take up the project on 100 acres or return the money that was paid about a decade ago. Tishman signed a memorandum of understanding (MoU) in 2007 and paid Rs 446 crore to the government for 100 acres, at the rate of Rs 4.46 crore per acre. The township was supposed to have been completed in eight years with a built-up area of 30 million square feet. The entire deal was worth Rs 1,700 crore for 400 acres.
However, official sources in the HMDA said the current market value of the project had increased to Rs 4,000 crore. They said the issue was taken to court notice by the private agency asking the HMDA to pay the current market value. Surprised by the private agencies move, the municipal authority decided to go for an off the court settlement. As per the off the court settlement, the HMDA agreed with the private agency to take up the project in 100 acres and it would not give 300 acres which would cost over Rs 300 crore.
While the official sources said the project had been shelved, higher officials at first said the project had begun, adding that the private agency had only prepared a detailed project report (DPR) and finally informed that the authorities were totally unaware of the status of the project.
A senior HMDA official said, "The project has been taken up by the private agency. The agency has to prepare the DPR. Actually, I'm completely unaware of the project and would inform the status after discussing with the higher authorities.” When asked whether the project was shelved or not, the official who was hesitant to comment said that it had come to his notice that a piece of land out 100 acres belonging to the private agency was sold to a reputed businessman.
Speaking about the Discovery City project at Srinagar, the official said even the HMDA was clueless about its status and other details. He said the private agency, which had 374-acre land, asked the government for another 183 acres of assigned and patta land to go ahead with the project. "The issue was brought to the notice of the state government which ordered the setting up of a special committee which would submit a report at the earliest. The committee is yet to submit a comprehensive report", the official added.