Hyderabad: The Hyderabad Metropolitan Development Authority has made spectacular announcements amid fanfare to impress citizens but has failed to execute them over a decade.
As many as seven projects like the Hyderabad Habitat Centre (HHC), Budvel Science city, development of an layout at Koheda and others are in cold storage. The HMDA has been sitting on about Rs 6,000 crore worth of projects. Though activities like land pooling have been taken up, HMDA officials claim that they are reeling under a severe financial crisis.
Sources said that despite making announcements the HMDA has not made any attempt to pool funds for these projects, other than relying on the allocations made by state government's annual budget. Government has asked it to fund the Musi Riverfront Development Corporation with Rs 100 crore from the HMDA's annual income. The authority decided to garner funds through the land pooling scheme which has been paralysed due to the back-to-back elections.
A senior HMDA official said that the municipal authority has been relying on state government for special allocations since five financial years but the latter could not provide any respite.
He said that the HMDA has sent proposals for about RS 10,000 crore ever since the state was bifurcated but government has allocated less than Rs 1,000 crore. He said that the HMDA is moving financial agencies from France, China, Japan, South Korea and Davos to fund each project.
He said that the municipal authority has already conducted a meeting with financial institutions from different nations and a decision on funding will be taken soon.
The official said that the HMDA has been focussing to pool 1,000 acres in Korremula, Gowrelli, Nacharam and 400 acres in Pratap Singaram. This apart, the official said that government has decided fund the HMDA heavily from the next year.
