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Single window nod for realty projects in Telangana State soon
Assuring the real estate sector that growth momentum would continue in Hyderabad, KT Rama Rao, Telangana Minister for IT and Industries, on Friday announced that the State government would soon announce single window clearance system for building permissions on the lines of TS-iPASS the industrial policy that the government brought in a few years ago.
Hyderabad: Assuring the real estate sector that growth momentum would continue in Hyderabad, KT Rama Rao, Telangana Minister for IT and Industries, on Friday announced that the State government would soon announce single window clearance system for building permissions on the lines of TS-iPASS the industrial policy that the government brought in a few years ago.
Speaking after inaugurating 9th Credai Hyderabad Property Show here, he said: "We will soon introduce TS bPASS for faster and corruption-free building approval system. We will invite the representatives of real estate sector and launch the new system. The way TS iPASS has become a role model for the country, TS bPASS will also become a role model".
TS bPASS stands for Telangana State Building Permissions and Self-Certification System. He urged real estate developers to look beyond Hyderabad and invest in tier 2 and 3 cities in Telangana by taking up projects there. On development of infrastructure in Hyderabad, he said that capital infusion on infrastructure would be a continuous process.
Pointing out that the year 2020 is important for Hyderabad in many ways, the Minister said Hyderabad Metro corridor 2 on Jubilee Bus Station and Mahatma Gandhi Bus Station route would be inaugurated soon. "With this inauguration, Hyderabad will have the second largest metro network in the country after New Delhi," he said.
The Credai Property Show 2020, which will conclude on Sunday (February 2), will have on display over 15,000 units from Credai Hyderabad members. Over 50,000 people are expected to visit the property exhibition which has 80 stalls. Building material manufacturers and financial institutions also put up their stalls.
Need attract cos to eastern side of Hyderabad
Real estate sector is witnessing growth in Hyderabad despite recession and slowdown across the country thanks to proactive policies of the Telangana government. Chief Minister K Chandrashekar Rao promised proactive steps when he inaugurated Credai property show in 2014. He kept his words and initiated several steps to revive the real estate sector in Hyderabad.
These steps put real estate sector back on growth track and we never looked back since then. We have a stable and able government which is good for Telangana. KTR has the vision and drive to take the However, there is need for getting companies towards eastern side of Hyderabad so that this part of the city would also grow. To achieve decongestion in the city, there is need for developing Hyderabad in all directions.
– V Rajasekhar Reddy, General Secretary, Credai Hyderabad
Regulatory framework for co-living need
IT Minister KT Rama Rao created global brand for Hyderabad. Now, there is a need for ease of doing business for real estate sector. New building permission system TS bPASS being developed by the Telangana government on the lines of TS iPASS will address this issue. However, co-living concept is gaining popularity in the country and in Hyderabad, but there is no regulatory framework to regulate it.
It will be good if the Telangana government brings in guidelines for monitoring co-living spaces. Further, developers are depending on underground water for their construction activity. As Telangana has ample supply of water thanks to Kaleshwaram and other irrigation projects, the government should supply water to construction activities as it is doing for industries. That way, pressure on groundwater will be reduced.
– P Ramakrishna Rao, president, Credai, Hyderabad
Right time to buy property in Hyd
Over 250 developers are displaying their properties in the 9th Credai Hyderabad Property Show. All of them are Credai members. Properties including apartments, villas, open plots, commercial properties, priced from Rs 25 lakh to Rs 5 crore are on display. This time, we arranged food courts and children's play area. Besides, building material manufacturers and vendors also set up their stalls.
This is right time to buy property in Hyderabad market which offers value for money for all categories of buyers. Hyderabad's office space market reached 12 million square feet per annum. We expect 15 per cent growth next year, reaching 15 million sft. As residential segment will be four times of commercial space, we expect residential sales of 60 million sft next year.
– Aditya Gowra, Treasurer, Credai Hyd, and Director, Gowra Ventures
