Hyderabad: Municipal Administration & Urban Development Minister K. Tarakarama Rao delivered the inaugural address at the CII Virtual Conference on “Telangana’s Real Estate & Infra Prospects in the COVID World – To Rise up the New Normal.”
“These are challenging times, we should remember that adversity opens up new opportunities,” said Minister KTR during the session.
Minister expressed confidence that the Hyderabad real estate market will bounce back soon. He said that the city’s fundamentals are very strong and opined that innovation is the way forward for the sector. He urged the real estate industry leaders to try and bring innovations to make housing affordable.
Minister KTR stated that post-COVID-19, there is an immense opportunity for the state to attract investments from other parts of the world, and the infrastructure development & construction sector would play a major role in it.
Minister KTR said that urbanization is increasing at an unprecedented rate and to cater to the demands of this increasing urban population, there is a need to extend avenues of development beyond the existing hubs and promote an integrated regional planning approach which helps pave the way for new cities and regions to emerge and develop.
He stated that the Government will soon introduce the integrated township policy to spread the development and distribute growth across the cities.
Minister KTR stated that the Government has recently approved TS-bPASS (Telangana State Building Approval and Self Certification System), providing hassle-free online building permissions within 21 days for properties above 600 sq yards and above 10 meters, and all non-residential buildings and layouts.
Minister KTR also said that the real estate industry should work with skilling agencies like the National Academy of Construction to ensure more number of local youth are hired in this sector.
Mayor Bonthu Rammohan also participated in the virtual conference. (INN)