Hyderabad: In a major initiative to ensure 360 degree growth of the State capital and to meet the challenges of crumbling urban infrastructure in the face of rapid urbanisation, the government will soon unveil an Integrated Township Policy that will offer substantial benefits and incentives to real estate developers who take up projects outside the Outer Ring Road (ORR).
Revealing the State government’s proposed plan of action in this regard on Wednesday, Municipal Administration and Urban Development Minister K T Rama Rao said he had already signed the policy on Tuesday after Cabinet approval. “Its salient features will be out tomorrow. The policy aims at decongesting the core city of Hyderabad, offering more benefits to real estate developers so that they can develop more satellite townships and counter magnets about 5 km outside the Outer Ring Road,” he said, speaking at the launch of new premises of real estate consultancy firm KnightFrank.
The policy, he said, aims at promoting live, work, learn and play kind of self-contained townships where people do not necessarily have to travel inside the city.
Stating that Hyderabad has had a good run in terms of real estate, which is a good indicator and reflection of the progress, the Minister said: “Last year, for three quarters in a row, we pipped Bengaluru which traditionally has been in the leader in terms of office space absorption. But on the whole, in the last six years, we jumped from the sixth spot to the second spot in the country. But, I do believe that we are not happy being the number two and we would definitely want to be the number one destination in the country.”
Pointing out that Hyderabad has been prospective in terms of investments in infrastructure and has taken up several flyovers and bridges as part of the Strategic Road Development Programme to ease congestion, Rama Rao said that while many cities and States have issues with power and water supply, Telangana has provisioned adequate water resources till 2050. “This continued growth momentum combined with progressive policies will ensure that Telangana will continue to attract investments,” Rama Rao said.
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