Telangana plans to ease norms for realty firms

By: V. Rishi Kumar

Chief Minister K Chandrashekar Rao has hinted at framing legislation to facilitate the growth of the real estate and construction sectors.

The accent of the legislation would be on ease of doing business, faster clearances and bringing about transparency in the processes. This will be on the lines of Telangana State Industrial Project Approval and Self Certification System (TS-iPass) for industries.

Meet with Credai

At a meeting with the representatives of the Confederation of Real Estate Developers Association of India (Credai), the Chief Minister said the State government was seized of the problems of the real estate sector and would seek to address their concerns by bringing about transparency in the clearances while ensuring there are no delays.

A delegation headed by C Sekhar Reddy, former national president of Credai and B Dasarath Reddy, president of Telangana Real Estate Developers Association, and others interacted with the Chief Minister.

Greenfield city mooted

He suggested that real estate players could consider forming a consortium to develop a greenfield city, spread over about 3,000 to 4,000 acres abutting the Outer Ring Road.

Describing the real estate developers as partners in progress, the Chief Minister said that since some of the major cities are getting overcrowded, IT and other services companies were looking at setting up their base in Hyderabad,. This would offer immense opportunities for growth for the State and for the real estate and construction companies.

Source: The Hindu

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