Expects Rs3,000 crore revenues to fund Palamuru-Ranga Reddy Lift Irrigation Scheme
Hyderabad: The TRS government has prepared a plan to develop a mega layout at Kokapet in HMDA limits. As part of the mega plan, the state government intends to develop 140 acres initially followed by constructing multi-storied buildings. The objective of the mega layout is to create office space of nine crore sft to accommodate five lakh employees, according to a senior official. The cash-strapped Telangana government is exploring to develop Kokapet area for generating revenues to fund Palamuru-Ranga Reddy Lift Irrigation project. The government is expecting Rs3,000 crore revenue from sale proceeds.
HMDA has a land bank of over 520 acres in Kokapet area. As part of the mega layout, the authority will finalise it by Dasara festival. The proposed infrastructure includes 45 feet of wide roads and underground cable system. Eight lane roads, cycle track, and other modern civic amenities will also be featured in the layout.
The State government has earmarked wide roads to facilitate light rail transit (LRT), bus rapid transit (BRT) and metro rail transit (MRT) as well.
Since no restrictions from Airport Authority of India (AAI), we can permit buildings up to 100 floors, said the official. The government is spend up to Rs150crore for creating modern infrastructure facilities.
Kokapet is the ideal region for developing infrastructure for the IT sector or any industry vertical. On the other side, the IT corridor has become very expensive. Moreover, land availability is also bleak in Hitech City zone. Barring Kokapet, remaining areas come under GO:111, which prohibits any type of construction or industrial activity in the catchment areas of Himayat Sagar and Osman Sagar lakes.
The TRS government is exploring all options to dispose of land in Kokapet and other areas that may fetch over Rs5,000 crore revenues.