No master plan yet, CREDAI Telangana cautions prospective property buyers in GO 111 areas

Without a master plan we do not know where Sewage Treatment Plants, roads and other facilities will come, CREDAI Telangana president elect, K Indrasena Reddy, said on Friday said.

Hyderabad: The Confederation of Real Estate Developers Associations of India (CREDAI) Telangana on Friday cautioned prospective property buyers not to purchase plots, homes or flats in areas falling under the GO 111 jurisdiction, citing non-completion of a master plan yet.

“Without a master plan we do not know where Sewage Treatment Plants, roads and other facilities will come. The areas under GO 111 also require the NGT clearance, which is a long journey. We have represented to the TS RERA chairman to stop construction activity in those areas,” CREDAI Telangana president elect, K Indrasena Reddy, said on Friday said.

---

Speaking to press persons after announcing new CREDAI Telangana office bearers for 2023-2025, CREDAI Telangana chairman D Murali Krishna Reddy urged the State government to lift the peri-urban and recreational zones present in the master plans prepared in the erstwhile Andhra Pradesh and come up with a new master plan.

He also urged the Central government to constitute a regulatory authority for cement and steel industries for regulating the prices.

On the auction of Neopolis layout in Kokapet, the new office bearers said the CREDAI was happy that Hyderabad has hit the headlines across the country. “But at the same time a drastic increase of the land prices is not a good sign. This price should not be taken as the benchmark. The high bids for the land parcels are only restricted to some pockets in the city and the buyers are restricted to only some,” they added.

CREDAI Telangana president E Premsagar Reddy wanted the TS RERA committee to curb the pre-launch sales besides constituting separate committees to address issues faced by developers especially in tier 2 and 3 cities.

To accelerate the growth of the real estate sector and ensure good quality construction in tier 2 and tier 3 cities, the CREDAI Telangana is focusing on setting up a skill development centre at its new office in Hyderabad. It is also setting up skilling centre of excellence in three to four districts, to run targeted programmes for upskilling the workforce.