CM Revanth urges HUDCO to offer low-interest loans for Telangana’s key projects

Telangana Chief Minister A. Revanth Reddy has requested the Housing and Urban Development Corporation (HUDCO) to extend long-term, low-interest loans for several major infrastructure projects underway in the state. He made the appeal during a meeting with HUDCO Chairman Sanjay Kulshrestha at his residence in Jubilee Hills.

The Chief Minister outlined the progress of flagship initiatives such as Bharat Future City, the Hyderabad Metro expansion, the Regional Ring Road, and the widening of radial roads. He said concessional financing from HUDCO would significantly ease the financial burden on the state and help accelerate these high-investment projects, which he described as crucial for Telangana’s economic growth in the coming decades.

The discussions also touched on future proposals, including

• a Greenfield corridor from Bharat Future City to Bengaluru, Amaravati and Chennai,

• a new Greenfield road linking to the proposed port at Machilipatnam, and

• potential bullet train routes through the region.

Revanth Reddy noted that HUDCO’s support for these mega projects would enhance Telangana’s standing in national-level infrastructure development.

The Chief Minister also asked HUDCO to consider restructuring older loans obtained by the state at high interest rates during previous administrations. Kulshrestha responded positively, acknowledging Telangana’s rapid growth and indicating that HUDCO would explore more favourable terms for upcoming projects.

Kulshrestha informed that HUDCO had already sanctioned loans for the Indiramma housing programme and assured that the process would be expedited for an additional 10 lakh houses planned by the state government.

Before the meeting concluded, Revanth Reddy invited the HUDCO Chairman to attend the ‘Telangana Rising Global Summit-2047’, scheduled for December 8-9 at Bharat Future City. Revenue Minister Ponguleti Srinivas Reddy, Chief Secretary K. Ramakrishna Rao, and other senior officials were also present.

Projects like the Metro expansion, Regional Ring Road and Bharat Future City require thousands of crores in long-term investment. High interest rates significantly inflate overall costs, placing additional pressure on the state budget. Lower-interest borrowing would reduce the financial load and leave more room for the government to fund other development initiatives.

CM Revanth Reddy emphasised that loan restructuring and accessing cheaper credit have become essential because high-interest borrowings from the previous government continue to strain the state treasury.