800 Crore Roadblock for KCR’s 500 Cr Project

In order to make his own park on Hyderabad, Telangana Chief Minister K Chandrasekhar Rao embarked on the skyways project to reduce the traffic hassles in the city. The skyway project at Jubilee Hills check post met with a roadblock in the form of the Jubilee Hills Landmark Project.

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A consortium led by ICICI ventures in 2006 purchased the land of 5.85 acres for a whopping Rs 335 crore from the government. The consortium is expecting 800 Crore as Land Acquisition package compensation. The skyways project cost is pegged at 500 Crore, the government can not shell out 800 Crore for compensation.

The state government is exploring other options like offering alternative land on the city’s outskirts similar to what was done by the Rosaiah government in undivided AP in 2010. However the consortium is not in favour of this since the project they had envisaged on this site would be suitable and viable only at Jubilee Hills.