Telangana govt calls for balancing act in realty

Hyderabad: With the western part of Hyderabad saturating with colossal construction activity and concentrating on IT, ITeS and fintech companies, the Telangana government now wants to spread development to other parts of the city. Members of Credai, Telangana Builders Federation (TBF) and representatives of other associations met Mr KTR. Almost half of the construction activity is concentrated in the western part only. Now, we want to spread development to all areas, added the Minister.

Telangana Industry, IT and MA&UD Minister Mr KT Rama Rao highlighted the need to develop other parts of Hyderabad to balance the real estate growth in the city.

“Comprising Madhapur Hitech City, Gachibowli, the western part of Hyderabad is overcrowded with IT, ITeS and fintech companies. The western part is saturated with many buildings. I advise the real estate companies to focus on other areas of the city. New construction activity in other parts of the city will evaporate the pressure on the western part,” said Mr KTR.

Real estate companies should, as part of their corporate responsibility programmes, join hands with the Greater Hyderabad Municipal Corporation to ensure that activities they take up are in the best interests of citizens.

While expressing concerns over construction waste, Mr KTR said that “the GHMC is doing a great job in handling city waste. Similarly, we have to deal with construction waste. The Telangana government has established recycling dumps for construction waste. Illegal disposal of construction waste material will not be tolerated. The construction companies, real estate trade associations and builders should come forward to clear the construction waste by adhering to rules."

The Minister further informed about the effort to simplify the process of permissions for buildings in the state.

Telangana’s construction policy is one of the best in the country, and the government wants to make it simpler. It’ll ensure transparency and all the approvals can be done online, Mr KTR assured the representatives from the building sector and real estate development.

Mr KTR has invited suggestions and opinions on a draft policy on the township. “I invited your valuable suggestions on the township policy draft. After incorporating all the suggestions and consultations with industry bodies and experts, the Telangana government will finalise the draft on the township policy. I further ask you to study the building permission rules across the country and provide us with the best possible suggestions. The government will make the final draft available for builders and real estate companies for the feedback.”

Generally, apartments account for about 70 per cent of the new launches in Hyderabad. Half of the new apartments are located in Miyapur, Gachibowli, Kondapur, Kompally, etc. The Telangana government wants to take the development to the north and southern parts of Hyderabad.

“If the proposed industrial corridors on Hyderabad-Nagpur and Hyderabad-Warangal route materialised, it would set the ball rolling for real estate activity in other areas of the city. At the same time, public transportation system including metro rail, monorail, MMTC, should expand to support the real estate expansion. It is better to go for less expensive projects like monorail, MMTC and BRS modes of public transportation for the north and south areas of the city and also Warangal highway to boost construction activities,” observe industry analysts.