Hyderabad''s Rs12,000 crore makeover!

21 Sep 2006

Hyderabad is in for a Rs12,000-crore makeover. In the next three years, the Hyderabad Urban Development Authority hopes to change the face of this city with big-ticket infrastructure development, reports CNBC-TV18.

It will get to work on its pet project on the Outer Ring Road and two residential townships on it. Besides, it will construct a 12-kilometre elevated expressway, connecting the city to the new international airport.

It will build a bus terminal and two commercial towers. To crown it all there will be an elite 200-acre NRI township as well.

HUDA will execute these projects through a partnership between the government and private infrastructure companies. The government will finance them by leveraging its real-estate assets.

HUDA has 150 acres near the new international airport, where it wants to build a hotel zone. It has planned a 1,500-acre IT park in Secunderabad on land that's priced at Rs40 lakh an acre.

Besides, it will free up 300 acres of industrial land outside the airport for development after relocating the Katedan Industrial Estate.

Those plans seem set to put Hyderabad on the road to a new look.