Don’t Touch Approved Projects: Realty Developers Tell TG Govt

Hyderabad: Real estate developers in Hyderabad on Wednesday made a strong plea to the Telangana government not to touch approved real estate projects in a haste while undertaking demolitions related to full tank levels (FTLs) and buffer zones in the city.

“Your officials have given permissions for the projects. Why don’t the government ask the officials about the permissions before undertaking demolitions. If there are any violations, the government should give notices before taking any extreme step,” the developers asserted at the stakeholders meeting organised by Telangana Deputy Chief Minister Mallu Bhatti Vikramarka and Irrigation Minister N Uttam Kumar Reddy.

According to sources, developers also informed the ministers that they would not be able to do business in Hyderabad if this continued. “We can’t do real estate business in Hyderabad if the government continues to do this. Many companies will go bankrupt. Developers will explore opportunities in Bengaluru and other cities for their survival,” they said. Sources say the Ministers assured the developers that the government would come out with a statement on the projects with proper permissions. The State government will also interact with bankers to increase funding availability for property buyers, it is said.