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CM mulls new law to curb misdeeds in reality sector
Chief Minister K Chandrashekar Rao stressed on the need for a new law to prevent irregularities and maintain transparency in the construction and reality sectors. He said the new law should be on the lines of TS-iPASS introduced by the Telangana government.
Says real estate sector plays a major role in the development of any city in the world
Hyderabad: Chief Minister K Chandrashekar Rao stressed on the need for a new law to prevent irregularities and maintain transparency in the construction and reality sectors. He said the new law should be on the lines of TS-iPASS introduced by the Telangana government.
Interacting with a delegation of Confederation of Real Estate Developers' Associations of India (CREDAI) at his camp office here on Saturday, the Chief Minister said the real estate sector played a major role in the development of any city in the world.
He urged the real estate players to contribute in transforming Hyderabad into a global city. He advised the realtors to form a federation to develop a special city on 3-4 acres of land near the Outer Ring Road. He informed the delegation that the State government was coming up with a Health City, a Pharma City and a Film City soon.
Chandrashekar Rao said Bengaluru had become too congested for the IT sector and therefore, many companies were moving to Hyderabad. He said people related to realty sector needed to play an important role in capitalising the opportunity.
The Chief Minister said the State government was planning to introduce a new policy to simplify the procedures for taking approvals for constructions.
Chief Secretary Dr Rajiv Sharma, CMO Principal Secretary S Narsing Rao, Municipal Administration & Urban Development Principal Secretary M G Gopal, GHMC Commissioner B Janardhan Reddy and other senior officials were also present. The CREDAI delegation comprised of C Rajashekar Reddy, G Ram Reddy, S Rama Reddy and others.
