Real estate sector to get priority from State Govt, says Dy CM Malli Bhatti Vikramarka

HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka has said that the Telangana Government will give priority to the development of real estate in the State. A delegation of National Real Estate Development Council, Telangana Division, met Bhatti Vikramarka at the Dr BR Ambedkar Secretariat on Monday. The team presented several suggestions and proposals to the Deputy Chief Minister for further development of real estate in the State.

On this occasion, Bhatti said that measures would be taken to solve issues faced by those bringing large revenue streams to the State.

Bhatti said that the Government had decided to develop the Musi river catchment area like the Thames river. He added that along with this, the construction of regional ring road would further develop the city of Hyderabad.

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"The beautification of Musi river will improve tourism. More food courts and entertainment events will be held ensuring Hyderabad becomes a major force for the economy of the State. Industrial and pharma clusters will be set up in the suburbs to make Hyderabad a pollution-free city," Bhatti said.

The Deputy Chief Minister added that if suitable suggestions and advice were provided on Dharani, he would examine it and provide it to the committee formed on Dharani. He shared that the Government would take appropriate decision to settle petitions pending for the last two or three years under the Layour Regularisation Scheme (LRS).

Meanwhile, the delegation of National Real Estate Development Council, Telangana Division, has given several suggestions to the Deputy Chief Minister for the development of real estate sector in the State which include

-As 'RERA' has been established for the development of the building sector, the existing 10 per cent mortgage policy for building permits should be lifted and the high registration charges in the State should be reduced.

-G.O. 50 should be removed.

-Lakhs of pending LRS applications should be resolved immediately so that large-scale constructions can start and the Government will get revenue.

-Cost estimates submitted for various projects under TSB-pass have been pending in Rangareddy district for the last two years, due to which many projects have stalled.

-There is no environment committee in the State since the last six months and it has been requested to set up that committee immediately.

-Temporary electricity charges taken up for construction of structures has been increased from Rs 9 to Rs 14 per unit. A request has been put forth to reduce the amount.

Representatives of National Real Estate Development Council Telangana Division 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 participated.