| HYD Metro Rail To Get 266 Acres Of Land |
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Hyderabad Metro Rail, the newly formed special purpose vehicle to supervise the project, will become the landowner for the 266 acres -- 223 acres belonging to the Government and the rest of 43 acres in private hands -- required for the project. The Government will be transferring land ownership to HMR, which in turn would lease the land to the private BOT developer for a period of 35 years including five years for constructing the project, said MD designate N.V.S. Reddy.
"At the end of the 35-year term the land will revert back to the Government which means the BOT developer can utilise the land for development, but not sell. Real estate can be developed over the depots and transit-oriented development along the routes," he said.
Three major depots for maintenance and rolling stock are to be built at Miyapur - 99 acres, Habsiguda-77 acres and Falaknuma - 17 acres. About Rs. 261 crores earmarked to acquire 43 acres of private property has been left out of the project cost bringing it down to Rs. 8,482 crores from Rs. 8,760 crores already.
HMR expects the Central and State Governments to pitch in about Rs. 3,277 crores as Viability Gap Funding (VGF) of 40 per cent from the total projected cost of Rs. 8,482 crores.
Private BOT developer bidding for the lowest VGF funding figure will be awarded the contract after technical qualification bid if okayed.
Equity participation is Rs. 1,638 crores with the State to put in Rs. 180 crores or 11 per cent and BOT developer 89 per cent - Rs. 1,458 crores. Debt component will be about Rs. 3,568 crores with debt-equity ration of 2:1.
Mr. Reddy is confident of getting the project cleared by the centre later this month and construction period could begin in four months with three months for technical bids scrutiny and another fortnight for financial bids scrutiny. That it would be metro rail for all three routes and a single BOT developer would be chosen from among the five consortia short-listed has been finalised as technical experts wanted uniformity in technology.
Metro rail is being planned on the three routes of (Line 1) - Miyapur to L.B. Nagar, (L2) Jubilee Bus Station to Falaknuma and (Line 3) - Habsiguda to Madhapur with 63 stations at an average interval of 1 km each. SOURCES: The Hindu
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