Hyderabad: The Hyderabad Metropolitan Development Authority has chalked out a grand plan to develop 146 acres in Kokapet for a mega commercial and residential complex.
The HMDA will lay 46 metre roads and divide the 146 acres into about 30 to 40 plots ranging from 9000 square yards to 25,000 square yards each. The complex will have convention halls, multiplexes, malls, IT industries, schools and colleges.
There will be no height restriction on buildings since the area does not fall under the jurisdiction of the Airports Authority of India (AIA) and builders can construct up to 100 floors.
The municipal authority will start auctioning the plots once they are demarcated and basic infrastructure is in place, hopefully by Dasara.
The idea behind such a complex is that residents should be able to access all they need within the complex.
According to HMDA officials, the 146 acres will be divided into three blocks. There will be no restriction on the use — it can be residential buildings, commercial complexes or IT industries.
The municipal authority has fixed a minimum price of `24 crore for the auction. Right now the municipal authority is clearing debris and rock deposits in the 146 acres. Once the levelling of the land is completed, the HMDA will start demarcating plots and laying 35- to 46-metre roads, and have underground storm water drains and a sewerage network.
Emphasis will be laid on underground cabling and all three blocks will be environment-friendly with at least 30 per cent greenery in each block.
An HMDA official claimed that auctioning the Kokapet land would fetch a whopping amount for the HMDA, which it could use for developmental works. The sale would also make up for the shortfall expected due to the delay in the ‘Look East’ policy, where the government wants to develop the eastern part of the city.
The HMDA official said that the idea was to reduce the flow of traffic into the city by constructing mega townships whose residents should be able to access all they need and have no reason to venture into the city.
He said that the infrastructure will be developed at an estimated cost of `150 crore.
The municipal authority official said that the ground clearance and demarcation will be completed by Dasara.
