‘Offering lands at govt rates to developers can boost affordable housing in Telangana’
Naredco is hosting the 14th Property Show from October 25-27
(From left) R Venkateshwara Rao, Treasurer; K Sreedhar Reddy, Secretary General; Vijaya Sai Meka, president and Dr L N Y Kiron, Executive VP, Naredco Telangana during the announcement of the property show in Hyderabad on Monday
Hyderabad: Naredco Telangana has urged the Telangana government to collaborate with developers in identifying suitable locations and earmarking land for affordable housing, as government Housing Boards struggle to meet demand.
The National Real Estate Development Council (Naredco) Telangana will host the 14th edition of its Property Show from October 25 to 27, 2024, at Hitex Exhibition Centre. Spanning one lakh square feet, the event will showcase residential, office, and retail properties, along with plots from around 100 developers, as well as participation from five financial institutions and building material suppliers.
Speaking to Bizz Buzz, Vijaya Sai Meka, president, Naredco Telangana, said that private developers are successful in their ventures due to their ability to identify the right location for developing a residential project, which cannot be addressed by Telangana Housing Board that is tasked to boost the affordable housing segment.
“Social infrastructure, location, livable and working condition are priorities for allocating and developing affordable houses. The government should collaborate with developers to solve this problem by offering land at government rate and in return they will get development ratio in the project. This discussion has been live for a while. We hope to receive a positive response from the government in the coming year,” the president added.
Informing about their talks with the Telangana Chief Minister, Vijaya Sai Meka said that the industry body has urged the government to earmark land parcels at the upcoming RRR (regional ring road), for private developers to take up construction of affordable houses. He further said, “Building residential projects on lands bought by private developers does not make construction of affordable houses feasible. Only when the government provides land at affordable rate, the price of owning house will come down.”
On a query about the current focus of real estate development in South Hyderabad, he said, “West Hyderabad is already congested, we are suggesting developers and buyers to explore other pockets where properties are available at reasonable price and developed infrastructure are present.
Right now, the growth in real estate sales will be witnessed widely in South side as the government has set its focus there and will be providing the required infrastructure for developing the future city.”
