Hyderabad: Real estate associations Telangana Real Estate Developers’ Association (Treda) and Confederation of Real Estate Developers Association of India (Credai), Hyderabad acclaimed that despite Covid-19 pandemic that has adversely impacted the overall economy, Hyderabad real estate has bounced back strongly and is set to be on a growth path.
The industry bodies said the Telangana government and its reforms largely led to the upliftment of the real estate sector in these tough times. Innovative policies and reforms like Dharani, which will go live on November 23, and TS-bPASS from the Government of Telangana would not only streamline the system, but also set a progressive track for the real estate sector in the State, Treda said.
R Chalapathi Rao, president, Treda said, “The growth witnessed in the Hyderabad real estate sector is largely due to the revolutionary policies and reforms that the Government of Telangana has undertaken over the past few years.” “Telangana government’s focus on sustainability and transparency clubbed with investment-friendly policies that drew the attention of multinational companies into the State, has only led to a major economic growth in the last few years” he further added.
RK Rao, president, Credai Hyderabad said, “We welcome the new online registration portal, with which the entire procedure related to registration of documents would be computerised. Details and documents pertaining to land records can be accessed online, making it convenient. We are confident that with the launch of the registrations on Dharani portal from 23 November, we will witness a new era in property document management in Telangana and speed up the revenue realisation for the government.”
Treda said registrations through Dharani portal will bring high transparency in the entire process thus eliminating loopholes and ensuring zero tampering of land records. While biometrics for the registration has been mandated for property sellers, buyers and tahsildars, land banks belonging to the government, Wakf Board, Endowments and Forest departments would be on auto-lock mode and cannot be registered.
Telangana State Building Permission Approval and Self Certification System (TS-bPASS) has set a new benchmark. “The integrated platform that offers a simple, safe and digital mode of transactions-from processing of various permissions required during development of land to construction of building through self-certification system to managing the entire process within the stipulated timelines, will really boost the real estate sector,” noted Treda. Treda president appealed to the State government to ask the cement and steel companies to reduce their prices to enable further real estate development.
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