Realty reform opens up sky for high rises

Hyderabad: The grand vision of Telangana Chief Minister K Chandrasekhar Rao appears to be unveiled. If the demand for houses increases in the state capital Hyderabad will easily have high-rise buildings, thanks to the new GO No. 7.

The state government, as part of its new initiative to improve “ease of doing business”, had recently come up with a slew of GOs relaxing various building and lay-out norms. Reacting to it, P Dasharath Reddy, President, Treda said, “The government has created an opportunity by reducing the impact fee.

It will definitely attract global infrastructure and realty majors to consider projects in Hyderabad.” The GO allows the builder to take up construction of activity even over and above 17 flours across the city and outskirts by maintaining minimum clear setback of 7 mts on all sides without any obstructions, except 2 mts wide green planting strip in order to facilitate movement of fire fighting vehicles.

As part of amendment to the Rule 16, the government has liberalised the Transferable Development Rights (TDRs) by bringing down the city-level infrastructure impact fee, which encourages and promoters to go for high-rise buildings, which is considered as the order of the day.

Accordingly, the builders want to pay a shelter fee in place mandatory building of EWS houses aimed at make the city slum-free, which will be pooled under a single escrow account and later can be used for building low income houses by the government, says S Ram Reddy, President, Credai Hyderabad.

However, for those construction sites abutting the major roads need to part with the land enabling the government to widen roads thus ensuring smooth traffic movement. The government has also amended rules allowing more flours over the multi-plexus, which is banned due to security reasons such as fire and other accidents, Reddy said.