TS-BPASS ensures zero corruption: Credai Hyderabad
Says it ensures speedy approval process in a transparent, time-bound manner in 21 days
Hyderabad: Welcoming the TS-BPASS, the Confederation of Real Estate Developers' Association of India (Credai), Hyderabad chapter, said that it would speed up the approval process in a transparent and time-bound manner. This is a first-of-its-kind reform anywhere in India, and will shape the way real estate projects will be approved in future, significantly increasing the ease of doing business, said Credai-Hyderabad.
Credai-Hyderabad led by president P Rama Krishna Rao, General Secretary V Rajashekar Reddy hailed the Telangana State Legislative Assembly passing the Telangana State Building Permission Approval and Self-Certification System (TS-BPASS) Bill.
"Credai-Hyderabad played a pivotal role in the formulation of the policy with a thorough evaluations and inputs from all stakeholders for a smooth implementation of TS-BPASS," said Rama Krishna Rao.
The TS-BPASS is a self-certification system to make citizens responsible and ensure that they adhere to the building and layout permission rules of the State government. As per the new law, people constructing a building within 75 sqare yards land need not obtain any permission from the authorities. However, they must register with the urban local body using TS-BPASS. Similarly, citizens can obtain instant permission for constructions in an extent of 75 sq yards to 600 sq yards through self-certification under TS-BPASS and commence their construction work.
Rajashekar Reddy added that "also, a parallel initiative, on the municipal side, by the government to curb sale if illegal plots, layouts in Telangana, and promoting the buyers to buy RERA-approved projects will go a long way in building the buyer confidence and spurring the growth for real estate sector in the city. Despite the Covid-19 pandemic, Telangana State and especially Hyderabad, continues to attract investments and is showing consistent growth. In last one month, the State has attracted investments totalling Rs 5,950 crore".