Rajnath Singh Sanctions Rs 303 Crore For Secunderabad Cantonment Development
Kishan Reddy had written twice to the defence minister, recommending the establishment of this escrow account and the direct deposit of the Rs 303.62 crore land compensation into it.
Hyderabad: In a significant boost to infrastructure, defence minister Rajnath Singh has approved the allocation of `303 crore for development works in the Secunderabad Cantonment area, following the initiative of Union minister Kishan Reddy.
To facilitate the construction of elevated corridors within the Secunderabad Cantonment, cantonment land is to be transferred to the HMDA. The compensation for this land transfer, which is typically deposited into the Consolidated Fund of India, will instead be placed into a special escrow account — in which a third party receives and pays out funds upon terms of the contract being met — linked to the Secunderabad Cantonment Board (SCB).
This arrangement ensures that the funds are used exclusively for development projects within the cantonment area.
Kishan Reddy had written twice to the defence minister, recommending the establishment of this escrow account and the direct deposit of the Rs 303.62 crore land compensation into it. Once the state government deposits the land compensation into the escrow account, the SCB has been instructed to commence a range of development works. These include the improvement of underground drainage systems, enhancement of drinking water supply, construction of retaining walls along drains, and the building of internal roads.
Kishan Reddy expressed his gratitude to Rajnath Singh for approving and issuing orders for the allocation of the funds.
