Title - World Bank, Hyderabad Metro focus on transit-oriented development

HYDERABAD, MAY 23:   A team from World Bank and Hyderabad Metro Rail Ltd today highlighted the importance of harnessing the potential of land value in transit oriented development of the metro rail project.

Outlining global examples of Hong Kong, Tokyo and many other cities, Hiroaki Suzuki, Lead Urban Specialist of the World Bank said how these cities achieved enormous prosperity and development apart from addressing their traffic problems through TOD approach.

He highlighted the need to integrate town and railway network planning. It is a common approach to cross-subsidise loss- making Metro projects through revenues from property development in and around metro stations.

He said financing and development of multi-billion dollar metro rail projects in Hong Kong, Singapore and Tokyo made them global centres of economic activity.

Barjor E. Mehta, Country Head of World Bank in India, said the Hyderabad model is a very promising and that World Bank will support its plans and activities to transform Hyderabad as an eco-friendly global city.

B. Sam Bob, State Principal Secretary, Urban Development, emphasised the need to finance urban infrastructure projects by capturing enhanced land values in urban areas.

N.V.S. Reddy, Managing Director of Hyderabad Metro Rail project, said the features of “Transit +” model of the project have been designed to decongest the city busy hubs.

The planned densification along metro corridors and development of areas around metro stations through land pooling helps create value, they felt.