Metro Rail Extension to Connect Biodiversity Park -RGIA09:30 AM 07 Apr
On March 26, 2018, the Telangana Government announced the formation of "Hyderabad Airport Metro Limited (HAML)".
HAML is the proposed Special Purpose Vehicle (SPV) between Hyderabad Metro Rail (HMR) with 51% stake and Hyderabad Metropolitan Development Authority (HMDA) with 49% stake.
The success of the Hyderabad Metro Rail corridor I from Miyapur to Nagole and the positive response from the citizens has led to the announcement of extending the Metro Rail to Rajiv Gandhi International Airport in Shamshabad to provide airport connectivity via metro rail.
HAML will implement the Airport Express Metro Corridor from the Biodiversity Park to Shamshabad with the extension of corridor III, a 30.7 km stretch.
Chief Secretary Mr. S. K. Joshi (HMDA) and Mr. N. V. S. Reddy (HMR) are appointed as the Chairman and Managing Director respectively. The other directors of HAML are Mr. K. Ramakrishna Rao, Principal Secretary (Finance), Mr. Sunil Sharma, Principal Secretary (Roads & Buildings), Mr. Arvind Kumar, Principal Secretary (Municipal Administration and Urban Development Department), Mr. Jayesh Ranjan (IT Secretary), and Mr. T. Chiranjeevulu (Commissioner, HMDA).
HAML will have an authorised capital of 100 lakh shares divided into 10 lakh shares of Rs. 10 each. Of the 10 lakh shares, 5.1 lakh will be subscribed by N V S Reddy, 4.89 lakh will be subscribed by S K Joshi. The remaining directors and initial subscribers will own the remaining shares.
HAML's focus will be on planning, building, running, and monitoring:
- Metro rail or other mass transport systems to the airports in Hyderabad and other cities.
- Integrated townships, commercial complexes, shopping malls, and other infrastructure facilities
- Road capacity extension.
- Transit-oriented development.
- Taxi cabs and other modes of transport.
Cost of Metro Rail ExtensionDuring the 10th Anniversary of the Shamshabad Airport, Mr. K. T. Rama Rao said that the Metro Rail Extension Project would cost about Rs 4,650 crores.
HMRL will play an active role in the development of townships around the Metro stations en route to the Shamshabad airport. It is proposed that the townships will have apartment complexes, commercial establishments, and shopping malls in Gachibowli, Narsingi, Telangana State Police Academy, Shamshabad, and so on. Property prices in these areas will touch new heights.
Metro Rail will make travelling from the airport to any part of the city faster, cheaper, and environment-friendly. The development of Metro Rail Extension will boost Hyderabad's image as a Global Business Destination.
While the Metro Rail Extension is a positive move for the real estate sector, developing townships near the Metro stations is the icing on the cake.
Get the updates about Metro Rail construction and other announcements at www.propertyadviser.in.
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