₹303 crore cantonment land compensation to be spent locally, says Kishan Reddy

Hyderabad: Union Minister G. Kishan Reddy on Tuesday said the Defence Ministry has agreed to his proposal that the ₹303.62 crore compensation for Secunderabad cantonment land be used entirely for local development, rather than being diverted to the central exchequer.

The land is being transferred by the Defence Ministry to the Hyderabad Metropolitan Development Authority (HMDA) for the construction of elevated corridors in the cantonment area. Kishan Reddy said he had repeatedly written to Defence Minister Rajnath Singh requesting that the compensation remain earmarked for infrastructure in the same locality.

According to Kishan Reddy, Rajnath Singh responded positively and has ordered that an escrow account be created under the Cantonment Board. The funds will be utilised exclusively for civic works and public amenities within the Secunderabad cantonment.

Kishan Reddy thanked the Defence Minister for the decision and said the move ensures the residents of the area directly benefit from the land monetisation.