HYDERABAD: With the Hyderabad Metropolitan Development Authority staring at empty coffers and over Rs1,000 crore to be paid to various banks, it has no option but approach the state government for funds. The situation is in stark contrast to five years back, when the HMDA was a generous contributor to the government treasury, with booming real estate.The HMDA is now making efforts to raise at least Rs 300 crore in the next 2 months, through fresh auctioning of plots and from the Layout Regularisation Scheme (LRS). HMDA metropolitan commissioner Rajeshwar Tiwari said the HMDA is taking a host of steps to raise funds for completing ongoing projects and paying bank interest. He added that the debts of the organisation stood at Rs 1,100 crore, of which Rs 700 crore is owed to the Housing and Urban Development Corporation (HUDCO) and rest to different financial institutions. The interest every month works out to around Rs10 crore, Tiwari said.The only source of funds at present is the Rs 450 crore from the government towards annuity payments of the Outer Ring road (ORR) project, of which `90 crore was released last month.Tiwari said the HMDA will also go for auctioning of new and old plots in September. The plots in Banjara Hills, Jubilee Hills, Jawaharnagar, Nandagiri Hills, Miyapur, Bandlaguda and a few other places will be auctioned to raise around Rs 200 crore. With the government extending the last date for clearance of pending LRS files up to September 30, the HMDA will make all efforts to collect Rs100 crore by clearing about 41,000 to 42,000 applications.Tiwari said special counters will be opened to help people in getting LRS applications cleared and an SMS campaign launched to send information to pending applicants to avail the facility.
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