- Is this the real reason for launch of Airport Metro project?
- With auctions, land prices to skyrocket!
- Pre-launch fraudsters likely to return
The proposal of Hyderabad Metro Rail from Raidurg to Shamshabad Airport is not a new one. This idea, which was mooted a few years ago, was shelved by the State government due to lack of funds. It is learnt that though it was taken up with the Chief Minister on several occasions, he did not pay much attention to it. So, why did the government suddenly got interested in this project? While it is debatable whether or not this project will benefit the realty sector or the metro rail passengers, there is no doubt that it will be very profitable for the State government.
The Problem
With elections just an year from now and the Cenral government not extending much support, the State government is dire need of funds to fulfill its poll promises and probably launch a few more new schemes to garner the public support. At a time when the government was eagerly waiting for some quick money, the proposals of Airport Express Metro and the land auctions were placed before the government by the top officials. That’s it, Chief Minister K Chandrashekhar Rao grabbed the opportunity and gave the green signal immediately.
The Solution
As per the current estimations, the Airport Express Metro project from Raidurg to Shamshabad airport will cost around Rs 6,000 crore. But the State government is learnt to have come up with another master plan that would earn a whopping Rs 40,000 crore for the government treasury. The government is planning to auction about 1,000 acres of land between Budvel IT Park and Shashabad, by luring investors with the metro train project. The Budvel IT park is spread over around 500 acres, while another 500 acres are available over the stretch between the IT park and the airport. Since all this is government land, the government proposes to develop infrastructure and auction the land for around Rs 40 crore per acre. Thus, upon selling 1,000 acres, the government can easily earn Rs 40,000 crores over the next three years. Out of this, Rs 6,000 crore will be spent for the metro rail, and the rest of the money will be used for other purposes. Moreover, since the lands are adjacent to the lake, there is an opportunity for the government to market them with the “lake view” concept.
The Challenge
There are no large land parcels in areas like TSPA Junction and Kismatpur. Therefore, the government has decided to auction the land in the area between Budwel IT Park and Shamshabad. If this auction turns successful, land prices in the surrounding areas will rise dramatically. All the areas which were cheaply available till now, will become expensive soon which will pose a major challenge for the construction sector. If an acre fetches Rs 40 crores, the prices of flats in the area also will skyrocket. Common and middle-class people will be thrown into a situation where they cannot realise their dream of owning a house. Further, if someone starts pre-launch offers, there is a risk of people getting duped into buying them without much hesitation only to end up cheated. There is no doubt that the proposed Metro Rail project will be a big blow for the general public.
