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Ghmc: GHMC’s SRDP project expenditure rises, hurts finances | Hyderabad News
Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC), already reeling under financial strain, now faces an even more daunting task as the budget for the strategic roads development plan (SRDP) continues to balloon. The significant increase in supplementary expenditure for various flyover projects, totalling Rs 1,180 crore, has further strained the GHMC’s already limited resources. The additional financial obligation has intensified the pressure on the corporation, making it increasingly difficult to manage its fiscal responsibilities effectively. According to recent data, the original estimate for the construction of 24 flyovers, road overbridges (ROBs) and elevated corridors across the city by the GHMC’s engineering projects wing under the SRDP was Rs 4,036 crore, but due to land acquisition, shifting of utilities and increase in raw material prices, the cost has ballooned to Rs 5,216 crore. For instance, the project cost of the 2.6 km-long steel bridge from Indira Park to VST Junction was initially pegged at Rs 384 crore. However, contractors reported that the project cost increased to Rs 565 crore after the completion of Phase I. “The completion of the city’s first steel bridge project came with an initial budget of Rs 384 crore. However, several factors contributed to the escalation. First, the increase in GST from 12% to 18% on all work contracts had a significant impact on the project cost. In addition, the need to shift utilities further added to the financial burden. In addition, the rise in steel prices also played a role in increasing the overall project cost,” said a GHMC official. GHMC officials stated that land acquisition has proven to be a significant hurdle in the construction of flyovers. In most cases, the increased budget estimates can be attributed to the need to compensate landowners for their land.
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