Special purpose vehicle to get funds for Musi project

  • | Wednesday | 18th January, 2017

Telangana government intends to launch a special purpose vehicle to garner funds for beautification and rejuvenation of the Musi river. The Musi Beautification and Rejuvenation project would require funds to the tune of Rs.4,000 crore which would be procured by the SPV to be named Musi River Corporation. To contain this, we are levying super structure tax with no entitlement benefits,” he told the House while answering members’ questions. “Those constructing illegal structures on government lands are paying property tax, power and water bill, and claiming ownership of the property later. In another announcement, Mr.Rama Rao said the government was imposing ‘super structure tax’ on illegal constructions, with the caveat that the payment of tax did not entitle the tax payer to any property rights thereof.

more-in Telangana government intends to launch a special purpose vehicle to garner funds for beautification and rejuvenation of the Musi river. Telangana Minister for Municipal Administration and Urban Development (MAUD) K.T.Rama Rao announced this in the Assembly during a short discussion on ‘Developmental activities in Greater Hyderabad Municipal Corporation limits’ here on Tuesday. Only 50 per cent of the 1,400 MLD of sewage water was being treated before being let into the Musi now, which was polluting the river and the areas downstream, he said, acknowledging the charge of legislator Komatireddy Venkat Reddy who had spoken earlier. The Musi Beautification and Rejuvenation project would require funds to the tune of Rs.4,000 crore which would be procured by the SPV to be named Musi River Corporation. Also, expressways would be developed alongside the river, and more bridges would be constructed over it, he said. In a statement of 15 pages circulated in the House, he said a 2,200-mm dia trunk sewer main was laid along the Necklace Road for diversion of sewage downstream of Hussain Sagar, and that sewage treatment plants with a capacity of 610 MLD were proposed to be constructed at 10 locations at a cost of Rs.1,200 crore. It was proposed to take up annuity mode of contracts for implementation and works would commence in the next financial year, he said. In another announcement, Mr.Rama Rao said the government was imposing ‘super structure tax’ on illegal constructions, with the caveat that the payment of tax did not entitle the tax payer to any property rights thereof. “Those constructing illegal structures on government lands are paying property tax, power and water bill, and claiming ownership of the property later. To contain this, we are levying super structure tax with no entitlement benefits,” he told the House while answering members’ questions.

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