No cap on Unlimited FSI

Municipal Administration Principal Secretary Arvind Kumar has made it clear that there is no scope for imposing any limit on unlimited floor space index. Participating as chief guest in the CREDAI’s Statecon held in Hyderabad on Thursday, he asked the organizers of the event to promote only the RERA-registered projects. He asked the CREDAI, which has a network of over 16 chapters and enjoys the support of over 850 developers, to pay special attention to this aspect. He apprehended that the realty market will suffer if the number of unregistered projects with RERA increases. The buyers should be encouraged to buy only RERA-registered projects alone. The buyers should be sensitized about it, he told the CREDAI.

As part of an exercise to keep flat prices affordable for people, the Rajiv Swagruha flats would be sold to developers on as is where is condition through auction. Developers should undertake repairs to them and sell them to customers. Policy guidelines are being prepared in this regard, he said.

A traffic assessment policy is being formulated to study the pressure on residential and commercial localities and office complexes, hotels, pubs and hospitals due to increase in traffic volume in these areas. The exercise to formulate the policy will take at least one month. The new structures would be permitted in tune with the policy, he said.

Area development plan is being readied. All regions will be developed in a foolproof way in Hyderabad, including west Hyderabad. Detailed plans are being prepared for development of Warangal, Khammam, Karimnagar and Mancherial, including the important aspects like road development, drinking water supply and power supply.

Under the TS-bPASS, over 60,000 applications have been received in six months. An IT expert has been appointed CEO of TS-bPASS. He said that permissions have been granted to RERA-registered housing projects worth Rs 1-lakh crore.

He thanked the CREDAI for bringing out a book on standard operating procedures to be followed by new entrants to real estate business. In fact, the government should have brought out the book, but CREDAI brought it out, he said paying special thanks for the gesture. The softcopy of the book should be placed on the CREDAI portal, which should also feature new GOs from time to time, he said.

In the new state of Telangana, the real estate sector’s success story is something very special, he said. Since 2015, there has been a boom in the realty sector. The TS-iPASS gave permission to set up over 18000 industrial units in the state, enlarging the scope for employment in Telangana.

People from other states of the country and other nations are heading to Telangana to settle down here. There are many families who migrated here from Delhi to settle down in Telangana. Hyderabad Road Development Corporation has stepped up efforts to develop link roads linking the municipalities and municipal corporations on the outskirts of the city with the ORR.