The Hyderabad Metropolitan Development Authority (HMDA), which has initiated a series of measures to clean the Hussainsagar lake, has now decided to explore the possibilities of tapping tourist, recreational and eco-tourist potential in around the water body.
The focus would be on the Buddha Purnima Project (BPP) area which already has different recreational pockets such as Lumbini Park, NTR Gardens, NTR Memorial, Laserium, Necklace Road, P.V. Gyan Bhoomi, Sanjeevaiah Park, Lake View Park and People’s Plaza. These rank among the major leisure destinations of the city for both locals and also the tourists.
With the quality of lake water set to improve in coming days due to works taken up with assistance of Rs.310 crores from Japan International Cooperation Agency (JICA), the HMDA hopes that there is ‘scope to improve the existing recreational activities and potential to develop tourist, recreational and eco-tourism in the BPP area’.
The potential for development has been identified at some open areas, constructed areas and activities, including those at Laserium Gallery, area opposite Sanjeevaiah Park, ground plus two floor structure at Lumbini Park and souvenir shop in NTR Garden. “We are looking to appoint Transaction Advisory consultants to support the HMDA in exploring the potential which will be within the prescribed restrictions and guidelines including those by the courts,” said an official. The consultants to be appointed would be expected to identify suitable projects, work financial modelling and business plans for sustainable development and optimise revenue generation for the HMDA in the BPP area.
The revenue potential from existing facilities such as food courts, water sports, entertainment rides and parking apart from advertisement potential would be assessed and ways found towards revenue maximisation.
Buddha Purnima Project area already has different recreational pockets Quality of Hussainsagar lake set to improve with Rs.310 cr. JICA aid
Buddha Purnima Project area already has different recreational pockets
Quality of Hussainsagar lake set to improve with Rs.310 cr. JICA aid