Naredco Telangana urges govt to focus on issues of realty sector

Telangana government’s focus must be on new flyovers in Hyderabad to decongest the traffic situation. The Regional Ring Road, flyovers, elevated corridors and the extending Metro Rail routes should help in the better management of the traffic - Sunil Chandra Reddy, President, Naredco Telangana

Hyderabad: Along with infrastructure development initiatives across Hyderabad, the Telangana government should focus on several issues of the real estate sector to make it a world-class city, says Sunil Chandra Reddy, President of National Real Estate Development Council (Naredco) Telangana State Chapter. Speaking to Bizz Buzz, he said that water crisis, traffic woes and pollution are some of the major issues in Hyderabad.

“The State government has asserted that it would complete all the pending irrigation projects on priority basis. Sitamma Sagar Project was proposed on the Krishna River at an expected cost of Rs 10,000 crore. It is expected to increase the State’s irrigation capacity, reduce water scarcity, and boost economic development. Other irrigation projects also should be completed at the earliest,” he said.

Sunil Chandra further said, “Learning from the traffic woes of Bengaluru, the State government’s focus must be on new flyovers in Hyderabad to decongest the traffic situation. The establishment of centres dedicated to traffic awareness is also on the agenda. The Regional Ring Road (RRR), flyovers, elevated corridors and the extending Metro Rail routes should help in the better management of the traffic.”

“After New Delhi, the most affected city due to air pollution in India is Hyderabad. Greater steps should be taken towards promoting the electric vehicles (EVs) and adoption of the EV policy,” he said, adding that the city must be developed across North, East and South directions. Till recently, the demand for residential and commercial real estate was mostly in the Western part of the city.

Under TSRERA, the project developer is required to mortgage 10 per cent of the built-up area to the sanctioning authority and then only the building approval will be released. There are many ways for the TSRERA to ensure that the buildings are constructed as per the sanctioned plan. The Naredco Telangana president requests the government to replace this law with higher penalty or blacklisting the developer.

He also recommends the government to include NALA conversion charges during the time of obtaining Occupancy Certificate (OC) from the HMDA. Unlike the usual 10 per cent of the project, 5 per cent extra mortgaged units are withheld until completion. Due to the implementation of new Revenue laws, the mortgaged units are not being released and leading to the delay in handover of these flats. Naredco Telangana proposes levy of property tax after six months from the date of issuance of the OC, levy of labour cess on construction projects, approval of building plans at Gram Panchayat, RERA button on TS-bPASS portal, online system for internal communication, collection of rain water harvesting charges either at HMDA or HMWSSB, and regular meetings to approve high-rise building applications.

(Congress party came to power in Telangana with A Revanth Reddy as its Chief Minister. Achieving faster industrial growth is essential for the new government to generate jobs and implement its high-value welfare schemes. In this backdrop, Bizz Buzz business daily has taken up a campaign to publish suggestions from industrialists, businessmen, industry associations, experts and others to help Telangana attract more investments. If you have any suggestions, mail them to [email protected]. We will publish innovative suggestions that add value to Telangana’s industrial ecosystem - Editor)