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Hyderabad Habitat Centre
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› Guide › Real Estate › Real Estate Trend › Hyderabad Habitat Centre
Hyderabad Habitat Centre 0
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No Comments Sub Category: Real Estate , Real Estate Trend Posted On: Sep 30, 2013
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The development of the proposed Hyderabad Habitat Centre (HHC)
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will be taken up by the
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Hyderabad Metropolitan Development
Authority (HMDA) at a cost outlay of Rs. 266 crore. It is proposed to
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be developed on a 11-acre site at Khanamet, which belongs to HMDA.
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It will be modeled on the lines of the Indian Habitat Centre in Delhi, with the objective of promoting the “Heritage and Art” of Hyderabad as
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well as the region as a whole. Being the chief promoter of the project,
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HDMA will contribute land and seed capital towards a Special Purpose
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Vehicle (SPV) which will be created for the purpose of developing and
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operating facilities at the center.
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HHC to form hub for promoting art and culture in the city:
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With the concept for the project based on that of the Indian Habitat
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Centre, the HHC will be formed in a manner such that it will act as a common venue for all cultural activities. As a result, it will facilitate the
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exhibition of different art forms, cultural extravaganza as well as any
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other activities that would be relevant in displaying the rich cultural
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heritage of the city. Moreover, it will act as a common ground for the display of different varieties of fine arts as well as cultural displays, not only belonging to local talent, but also those belonging to national and international artists.
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The fact that the city currently does not have a facility which is spacious and has all the adequate facilities required for
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the display of various art and cultural activities is considered to be a major drawback. The proposal for the development of the HHC was considered so that it will facilitate as a venue for the display of any artistic or cultural activities, be it a painting exhibition, a dance performance or a theatre performance. Khanamet selected based on its feasibility: The project is planned to be developed based on the Public-Private-Partnership (PPP) mode, with a consultant appointed to look into issues related to the identification of a suitable site for the project development. Initially, the HDMA had many sites at its disposal that could be employed for the project that included sites at Izzatnagar, Khanamet, Jawaharnagar and Shamshabad. From among these sites, the one at Khanamet was selected as it was https://www.commonfloor.com/guide/hyderabad-habitat-centre-31390.html
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Hyderabad Habitat Centre
suitable for the proposed project, besides the availability of large expanse of undeveloped land that could be utilized
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for the purpose.
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Impact on Realty sector: Khanamet, which is located 20 km north-west of Hyderabad, along Prof. C.R. Road, has in its vicinity many renowned
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areas like Hitech city and Gachibowli which are commercially well developed. The proposed HHC could result in considerable appreciation of land value in the proximity. Hence it will be a lucrative proposition for realty developers to embark on prestigious projects so as to tap into the prospects that the area offers in future.
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Tags: Hyderabad Metropolitan Development Authority, india habitat center delhi, india habitat centre delhi, india habitat centre new delhi, indian habitat center, indian habitat centre, private public partnership, properties in gachibowli, public private partnership, public private partnerships, rural development projects
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