HMR extension to Shamshabad International Airport to Positively impact Realty
The second phase of the Hyderabad Metro Rail (HMR) has received a much needed thrust forward with the Union Cabinet giving its approval for extension of the project to the Shamshabad international airport, at an expenditure of Rs.3,275 crore. In the meanwhile, approvals are being sought by the State government and HMR authorities for securing extension of the metro rail services under the second phase of operations, to seven other routes across 85 km. The total distance by which the project is proposed to be extended as part of the second phase of operations is 97 km.
The HMR project, since it was announced in 2010, has garnered international attention, considering that it is the world’s largest project under the Public-Private-Partnership (PPP) model, with over Rs.17,000 crore invested on it to date. Currently, the operations on the first phase of the project are progressing rapidly across various locations of the city. The launch date for the first stage of operations between Nagole and Mettuguda has been tentatively fixed for April, 2015.
Extension of Corridor-II:
Operations on the first phase of the HMR project is currently being undertaken along three corridors, spread across 72 km. The operations on Corridor-II extends from Jubilee Bus Station, via Secunderabad to Falaknuma, over 14.78 km. The approval given by the Union Cabinet to extend the route from Falaknuma to Shamshabad International airport, will further extend the line by 12 km, for a total distance of 26.78 km. Corridor-I of the HMR, extends from Miyapur to LB Nagar, over 28.87 km, while Corridor-III extends from Nagole to Shilparamam, over 27.51 km.
New routes under Corridor-II:
A Canadian consultancy firm, LEA Associates-Soth Asia, has been selected as the traffic consultant for the HMR project, as part of the second phase of operations. The objective of the firm would be conduct studies so as to assess the proposed volume of traffic on routes that come under the second phase of operations. A decision will be taken based on the report submitted by the firm in this regard. The proposed routes under the second phase of the project include the 15-km long Miyapur-BHEL-Patancheru route, the 12-km long Falaknuma-Shamshabad route, the 4-km long LB Nagar-Vanasthalipuram route, the 15-km long Nagole-LB Nagar-Falaknuma route, the 14-km long JNTU, Kukatpally-Shilparamam-Gachibowli route, the 8-km long JBS, Secunderabad-Alwal route, the 17-km long Gachibowli-Tolichowki-Lakdikapul route, and the 12-km long Mettuguda-ECIL via Malkajgiri route.
HMR allays apprehensions of public:
The HMR project initially faced stiff opposition from different quarters when the first phase of operations were launched. As a result, it took two years for work on the project to commence after approvals were got both from the Central as well as the State governments. Some of the apprehensions held by the public were with regards to loss of property, both private and government, as well as regarding the threat to heritage sites and structures. Subsequently, all major stifling issues that were acting as stumbling blocks were sorted out, and the project started getting rave reviews from citizens. Besides, the positives initiatives undertaken by the HMR along with the concessionaire, L&T-MRHL, by involving the general public, has gone a long way in allaying the apprehensions among a large section of the public.
Following the positive measures taken with the public interest in mind, many owners readily came forward to part with their property. In return, the HMR proposed an attractive relief and rehabilitation package by which those affected were compensated at market rates. With regards to land acquisition, all instances of resistance has been taken care of except for issues related to a small stretch of property between Sultan Bazaar and Badi Chowdi and also in Krishnanaga. Even though some issues related to land acquisition still persist with the Majlis-e-Ittehad-ul Muslimeen (MIM), they are expected to be resolved sooner than later.
Positive impact on realty sector:
With most of the issues that were hindering the progress of the project put to rest, and operations on the project on track, the HMR authorities can now heave a sigh of relief with the expectation that the proposed date of completion will not be pushed further. As the proposed date for launch of the first phase of operations draws closer, it can be expected that there would be considerable appreciation in capital values on investments in realty. Many prestigious projects are in various stages of completion along the metro route. With the present decision to extend the Corridor-II line to the Shamshabad International airport, it would not only reduce the travel time of commuters, but also result in considerable realty development and appreciation in residential property value along this extended corridor.
