Officials attribute YSR’s turning down the project to financial crunch
Land prices went up when government approved proposal months ago
HYDERABAD: After remaining in cold storage for months, the proposal on an elevated four-lane expressway from Parade Grounds in the city to Shamirpet has been finally shelved.
The reason: huge cost of the project and the fund crunch faced by the government. The construction of 30-km long expressway was mooted by then Road and Buildings Minister T. Jeevan Reddy .
After the government approved the proposal, a Mumbai-based consultancy was appointed to submit a feasibility report.
The report was submitted to the R&B department a few weeks ago and it came up for review of the Chief Minister recently. Dr. Reddy, it was stated, turned down the proposal in view of the huge cost factor. The Mumbai firm is stated to have estimated that the mega project would cost around Rs. 540 crore. Officials attributed the Chief Minister’s disinclination to the project to the State’s financial condition.
Officials had already conducted a survey to identify the properties to be acquired between Karkhana and Shamirpet. Apart from private properties, over 75 per cent of the land belongs to Defence.
“Plans have also been drawn to approach Defence authorities for land acquisition but we dropped our plans as the project is shelved,” confirmed a senior official of R&B department.
The elevated expressway was meant to ensure a hassle-free drive for commuters travelling on the busy Secunderabad-Shamirpet stretch via Karkhana, Trimulgherry and Bollarum.
It envisaged cutting short the present more- than-an-hour-drive from Parade Grounds to Shamirpet which is around 30 km long.
Land prices had gone-up in Shamirpet and its surrounding areas days after the government approved the proposal.
The price of an acre of land rose to Rs.2 crore from Rs.80 lakh, while a square yard land price went up by Rs.2, 000 to Rs.3, 000.