Telangana for policy changes to boost realty sector

Hyderabad: The Telangana government is not averse to bringing in more policy changes to boost real estate sector in the city and across the State, Jupally Krishna Rao, Minister for Panchayat Raj & Rural Development, said on Friday.  “Our government has already initiated several measures to remove bottlenecks that are hampering the growth of the real estate sector in the State. The approval processes have also been simplified. We are not averse to initiating more measures to tackle the challenges that the key sector is facing,” the Minister said after inaugurating the three-day TREDA Property Show in the city.

Recalling apprehensions expressed by some people about the slowdown in Hyderabad realty sector after the bifurcation of Andhra Pradesh, he maintained that their fears proved to be wrong as the Telangana government succeeded in putting the sector back on the growth track with a slew of measures. “Chief Minister KCR through his innovative initiatives, created global image for Telangana and enhanced brand image of Hyderabad,” the Minister said.

According to him, Hyderabad has the location advantage compared to other cities and the real estate prices in the city are cheapest in the country.

Meanwhile, nearly 135 stalls have been put up at the three-day property show being organised by the Telangana Real Estate Developers Association (TREDA). Several real estate developers, builders, housing finance companies, material manufacturers and banks are showcasing their latest properties, products and services at the show which is expected to attract 60,000 visitors this year. The exhibition will conclude on Sunday.

“This is the seventh edition of our property show. We have always been receiving overwhelming response from the real estate fraternity and prospective buyers. We are expecting similar response this year as well,” said P Dasharath Reddy, president, TREDA.  He further said that the State had been witnessing transformational changes, especially in Hyderabad, thanks to various measures initiated by the government. “We expect the momentum of growth in the real estate sector to continue,” he said.

Credits The Hans India

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