The much-touted Integrated Township projects of HUDA along the Outer Ring Road alignment is set to become a reality with the Tellapur Integrated Township, first of such projects awarded to a consortium recently.
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The objective of the Integrated Townships to be developed in public private partnership basis, is to ease traffic congestion in the twin cities and surrounding municipalities and to meet the growing need for residential, commercial and office spaces.
The consortium that bagged Tellapur project by quoting Rs.4.21 crore per acre is Tishman Speyer properties, ICICI Venture Funds and Nagarjuna Constructions Corporation Ltd. The cost of 400 acres of land itself would come to Rs.1,686 crores that would be paid to HUDA over three years. The project is estimated to cost about Rs.3,500 crores.
The consortium will prepare Detailed Project Report and submit it in six months and after that, implementation of project would commence. Given the magnitude of the project, the question that is bound to rise is affordability. With such a high value project, even upper middle class may find it hard to own a decent flat in the township. The general view is that if the focus is on decongesting the city, then townships should be affordable for a large chunk of population than the going rate of apartments and houses in the city. As the name suggests, integration is not for exclusivity but for inclusiveness. HUDA needs to ensure that Integrated Townships does not become exclusive domain of some adding a snob value to the residential address.
Source: The Hindu
