Hans News Service Hyderabad

TheHyderabad Metropolitan Development Authority (HMDA), which used to play a key role in the development of the city by funding projects, is now seeking substantial funds to take up massive projects proposed by the state government. The HMDA has mobilised Rs 3,278 crore from its first tranche of bonds out of a total planned issue of Rs 4,999.87 crore.

The HMDA has maintained a strong financial position with diversified revenue streams, including development charges, building regularisation schemes, land auctions, and Outer Ring Road (ORR) Toll Operate Transfer (TOT) receipts. The HMDA has consistently generated revenue surplus with low debt and maintained a stable credit rating. However, in view of several upcoming big projects, the authority has chosen to focus on funding for completing infrastructure projects.

The HMDA is offering 5 to 8 per cent interest to purchasers. The authority has the eligibility to procure Rs 19,999.99 crore in multiple tranches of its bonds by virtue of AA rating, with Rs 3,278 crore mobilised in the first tranche. According to a senior official, HMDA has several projects in the pipeline. Along with the two elevated corridors of Paradise to ORR near Shamirpet on the Rajiv Rahadari and Paradise to Dairy Farm road on the National Highway- 44, the state government has started the elevated flyover from the Integrated Command Control Center (ICCC) to Shilpa Layout.

Continued on Page 5