Indian Real Estate

Hyderabad, Sept. 10: Hyderabad Urban Development Authority (Huda), which had gained notoriety as real estate broker of the State by acquiring lands from poor farmers and auctioning them at sky-high prices, is now on a mission to improve its public image. Huda had stated earlier that it would take up the construction of low-cost townships for the middle income section of society. Now, it has shortlisted at least five sites for the construction of these low-cost townships for middle class.

A formal announcement regarding the inauguration of this project is likely to be made by Chief Minister Dr Y. S. Rajasekhar Reddy on October 2. The process of identifying sites for these townships was delayed for various reasons. Official sources told this correspondent that these sites include lands at Jawaharnagar, Shamshabad, Kollur, Rampalli and Maheshwaram.“The officials have also identified some other sites at Tellapur, Saroornagar and Sahebnagar as a precautionary measure in case of any fresh litigations on the five identified sites,” sources said.

When contacted, Huda secretary P. Venkat Rama Reddy confirmed to this correspondent that they intend to have the project inaugurated by the Chief Minister on October 2. However, he refused to confirm the sites where Huda plans to set up the flats. Sources said Huda is reluctant to reveal the identified sites due to legal problems. “The Huda is on an image building exercise. The top officials of Huda are of the opinion that this project would help to improve the tarnished image which Huda now has among the public owing to land auctioning.” official sources said.

“So, Huda is bent upon grounding this project,” they added. As per the proposal, the low-cost township will have at least 2,000 units (flats). Each unit will be of 800 square feet and priced around Rs six lakhs. This way, Huda wants to construct at least four to five townships at different places in the outskirts of the city for the benefit of middle income group. “Huda plans to sell these flats in low-cost townships at Rs six lakhs each with a provision of installment facility to the allottees,” an official said. “However, the project, if inaugurated on October 2, will take another two years to be completed,” he added.