Hyderabad: Mucherla, where the Fourth City will come up, will have a significant number of artificial intelligence (AI) companies in addition to sports, IT, and industry, said M. Dana Kishore, principal secretary for municipal administration and urban development.
Mucherla is a new satellite city that the state government is planning to build 25 km south of Hyderabad’s Outer Ring Road.
Stating that Chief Minister A. Revanth Reddy wanted Hyderabad to compete with global cities, and not merely be Indian cities, Kishore said land pooling schemes, new radial roads, widening of radial roads, comprehensive plan for mobility, last mile connectivity, lung spaces will be on par with international standards, making Mucherla a viable and futuristic city.
Speaking about musi riverfront development, Kishore said people in future would like to spend their time on the Musi river instead of visiting malls, which is the current trend in the city.
“The water in the Musi will become so clean that people would like to swim in it,” he said.
Speaking at the closing ceremony of the property show held at Hitex by the Confederation of Real Estate Developers’ Associations of India (Credai), Kishore outlined the state government’s initiatives to develop infrastructure, including a comprehensive transit plan for the city and digitisation.
He also spoke of the state government’s assistance to the real estate sector and recalled the Chief Minister’s response to Credai members’ request for relaxation for building permits and mortgage requirements.
The principal secretary stated the government has already allocated Rs 10,000 crore for Hyderabad in the Budget and would ensure that other financial institutions invest around Rs 15,000 crore for the city development.
V. Rajashekhar Reddy, president of Credai-Hyderabad, said showcasing RERA-registered projects from member developers in the property show had helped in gaining the trust of the home buyers. In total, 4.12 lakh square feet of property space was exhibited at Hitex.
Jagannath Rao, general secretary, Credai, Hyderabad, said the state government had a clear vision for 2050, which will catapult the state to the next phase of growth.
