Hyderabad: The second phase of the Telangana state government's flagship Strategic Road Development Plan (SRDP) would affect over 1,500 properties while land acquisition will cost over ₹2,200 crore, GHMC officials have said.
Following several interactions with officials from the municipal administration and urban development (MA&UD) department, the civic body has decided to make maximum use of transfer development right (TDRs) policy rather than offering monetary compensation to the property owners as both the government and the corporation are facing a severe fund crunch.
Officials said that issuing of TDR certificates has helped them save ₹4,832 crore towards cash compensation for infrastructure works executed in the city.
The TDR certificate gives the property owner, whose land was acquired, the right to construct additional built-up areas anywhere in the city. They can also sell the TDR certificates.
The state government has already accorded administrative sanction of ₹4,305 crore to execute the SRDP phase-II, which proposes execution of 36 works.
The priority is for execution of 12 projects, including flyovers, underpasses, bridges, tunnels, road overbridges and underbridges which require the maximum land acquisition.They said that the 12 projects together will require around ₹1,300 crore to acquire about 800 properties. They said that the state government has assured complete financial assistance to the civic body to execute the SRDP -II. The state government has instructed them to derive the maximum from the TDR policy and convince the property owners to opt for it instead of monetary compensation.
They said that the corporation will hold a series of meetings with property owners and start executing the project by the end of July. Authorities said that MA&UD minister K.T. Rama Rao is keen on starting the project prior to the ensuing Assembly elections.
