Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka affirmed the state government’s commitment to prioritizing the growth of the real estate sector during a meeting with the National Real Estate Development Council Telangana Division at Dr. BR Ambedkar Secretariat today.
The delegation presented a series of suggestions and proposals aimed at fostering the continued development of the state’s real estate industry. Deputy Chief Minister Bhatti Vikramarka assured the delegation that measures would be taken to address challenges faced by wealth creators contributing significantly to the state exchequer.
Notably, the government has decided to undertake the development of the Musi river catchment area, drawing inspiration from the Thames river model. Additionally, plans are underway for the construction of a regional ring road to enhance the overall infrastructure of Hyderabad. Emphasizing the importance of the Musi river’s beautification, the Deputy Chief Minister highlighted the potential for tourism development, increased food courts, and entertainment events, positioning Hyderabad as a pivotal economic force in the state.
Bhatti Vikramarka outlined the government’s vision to establish industrial and pharmaceutical clusters in the suburbs, aiming to transform Hyderabad into a pollution-free city.
Addressing concerns related to the pending Land Regularization Scheme (LRS) applications, Bhatti Vikramarka assured a swift resolution to facilitate large-scale constructions, benefiting both stakeholders and the government’s revenue stream. He invited suggestions and advice on the Dharani platform, promising to examine and present them to the relevant committee.
Meanwhile, the National Real Estate Development Council Telangana Division delegation proposed several key recommendations for the development of the real estate sector. They advocated for the removal of the existing 10 percent mortgage policy for building permits, a reduction in high registration charges, and the withdrawal of G.O. 50. The delegation urged the immediate resolution of pending LRS applications, emphasizing its role in kickstarting stalled projects.
Furthermore, concerns were raised about delayed approvals for projects under the TS B-pass, particularly in Rangareddy district. The delegation requested the swift establishment of an environment committee, which has been absent for six months. Finally, they called for a reduction in temporary electricity connection charges from Rs.14 to Rs.9 per unit for building structures.Representatives of the National Real Estate Development Council Telangana Division, including Meka Vijaya Sai, K. Sridhar Reddy, Kali Prasad, Dasharath Reddy, Chalapathy Rao, Bhupal Reddy, Marozhu Sridhar Rao, Ashok, Rami Reddy Venkat Reddy, KK Reddy, and others actively participated in the discussions. (INN)