Metro Bonanza for Hyderabad property owners!

Posted : December 31, 2013 at 7:38 pm IST by ManaTelugu

Land owners who own properties within 300 meters of the proposed Hyderabad metro rail stations can soon utilize their properties for commercial purpose as per the new guidelines issued by the Hyderabad Metropolitan Development Authority (HMDA).

This new rule entails that owners can now use their property for developing malls, hotels, restaurants, service apartments, office spaces, hospitals, high street retail business, health clubs, entertainment zones or hostels in addition to residential purposes.
Officials have reportedly identified 19 areas in the city for such development — Miyapur, Kukatpally, Balanagar, Ameerpet, Moosapet, Bharatnagar, Punjagutta, Erramanzil, Khairatabad, Nampally, Rasoolpura, Hitec City, Nagole/Uppal, Tarnaka, Mettuguda, Parade Grounds, Raidurg, LB Nagar and Moosarambagh.
These were reportedly finalized based on parameters like densification, scope for redevelopment, pedestrian facility, access to transit stations parking space and multi-modal transportation.