- M Prem Kumar, new president of NAREDCO West Zone Builders Association
M Prem Kumar said that he will take up the problems faced by the small builders to the attention of the State government and strive to get them resolved. Upon getting newly elected as the president of Naredco West Zone Builders Association, he exclusively spoke to Real Estate Guru (REG) and said that permission for multi-storied buildings should be granted at the GHMC (Greater Hyderabad Municipal Corporation) headquarters. Excerpts from his interaction:
Excavation work for cellars while constructing apartments of 900 sq.yards or more area in different parts of the city, has become a challenge for builders and a suffering for people residing in the vicinity. Especially those who are working from home or studying, are getting disturbed. Hence, GHMC should grant permission without requiring a fire NOC (No Objection Certificate) for small apartments to construct 2 stilts plus 5 floors instead of cellar. If this is allowed, there will be no need to dig up huge cellars and fill the canals and tanks with this soil. The environmental harm also can be avoided. The GHMC should take a decision in this regard keeping in mind the importance of this issue. Permission for these small buildings should be granted at the local GHMC offices and reduce the burden on the central office as well as expedite the process.
However, transactions in the real estate sector in the suburbs have slowed down slightly in the recent past. People are more inclined to purchase flats in key areas of the city and are preferring ready-to-move-in houses. As they have always wanted to own a house, they are going ahead with their plans notwithstanding the market conditions. People are opting for flats as the prices are likely to increase in coming days. Considering factors like increased land prices and construction costs, it is better to buy own houses now. Because, in the coming days the rates of flats will go up further and is very unlikely to reduce.
