There is a need to finance more and more urban infrastructure projects by capturing enhanced land values in urban areas through Transit-Oriented Development (TOD) mechanism, according to municipal administration and urban development (MAUD) principal secretary B Sam Bob.
He made this comment at a workshop on ‘Land value capture for TOD’ at Metro Rail Bhavan on Thursday, organised by World Bank and Hyderabad Metro Rail Ltd (HMRL).
Making a presentation on the innovative approach of HMR project, its managing director NVS Reddy highlighted the main features of ‘TOD’ model of the HMR project that include inter-modal integration with the railway stations of Secunderabad, Nampally and Begumpet, bus depots at Miyapur, JBS, MGBS, Dilsukhnagar, Koti, Lakdikapul and Falaknuma and six MMTS stations; running of merry-go-round feeder buses in the residential colonies and business areas around all the metro stations; provision of skywalks, footpaths, bicycle stations, pedestrian facilities, etc., to avoid the need for personalised vehicles; and development of metro stations and depots as hubs of activity with shopping complexes, multiplexes, food courts, clinics, retail stores, etc, to cater to day-to-day needs of people and to reduce congestion on roads.
Reddy said that HMR was being viewed as an urban redesign and rejuvenation opportunity to transform the city into a people- friendly green city.
With examples of Hong Kong, Tokyo and other cities, Hiroaki Suzuki, Lead Urban Specialist of the World Bank, explained how they achieved enormous prosperity and development and addressed their traffic problems through TOD approach.