• Source:JND
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Hyderabad News: Anudeep Durishetty, District collector of Hyderabad on Tuesday announced that the compensation for properties affected by the metro rail project has been fixed at Rs 81,000 per square yard. The announcement is seen as a significant development regarding the metro rail project in Hyderabad Old City. The decision from the authority was communicated during a meeting with property owners. The owners were invited for the meeting whose lands and structures fell within the rail alignment.

The collector assured that the valuation by the authority was decided after taking into account the current market rates and the socio-economic impact of the project. He also stated that several of the owners and property business experts were consulted before finalisation of the rates. He assured the property owners of a transparent and fair process for compensation of their losses.

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He further informed that the compensation amounts to the owners will be given after all formalities, including verification and documentation. While many of the property owners looked satisfied with the proposals from the authority, others claimed that the amount might not be sufficient to cover their relocation and rehabilitation expenses.

Earlier on Monday, Hyderabad Airport Metro Ltd (HAML) informed that the authority has started the process of land acquisition along the seven-and-a-half-kilometer MGBS-Chandrayangutta route in the Old City. The HAML stated that chief minister Revanth Reddy is closely observing the project. The advisory stated that CM is monitoring the project to ensure its timely completion in close collaboration with Hyderabad District Collector.

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NVS Reddy, Managing Director, HAML, informed that the process of acquisition is proceeding rapidly and added that a total of 1,100 properties are part of this project. He further informed that the District Collector has already received requisitions for 900 properties under the Land Acquisition Act. Reddy also stated that 800 properties have received preliminary notifications in phases, with 400 receiving preliminary declarations.