With Telangana government scrapping the idea of phase wise rolling out of Hyderabad Metro Rail Project, the revenue plan of the project concessionaire is totally derailed. The first route between Nagole and Mettuguda was supposed to begin on March 21st but was pushed to the next year.
So, L&T is deprived of the revenue and so it is planning to speedy construction of malls and multiplexes in the land allotted to it to make money. L&T has been given 20 land parcels in the city amounting to 259 acres. It is planning to build four malls at Errammanzil, Punjagutta, Madhapur and Moosarambagh. And 0.5 million square feet is allotted for building retail and advertisement spaces in the metro stations.
They are planning to make up at least 50% of the total revenue by this alternative way. The initial estimation of the project was Rs 14,370 crore and it has reportedly crossed Rs 20,000 crore now making the project more difficult for the concessionaire.
