- TBF President Ch Prabhakar Rao
- Realty sector ignored in 2023 budget
- Without any support, who will take up affordable housing?
- Government should provide land at nominal cost
- Only then common man’s dream of owning a house will come true
Every human being needs food, clothing and shelter. For this, the governments provide support to the farmers tp grow crops. Industries and organizations that provide cloth too are getting necessary assistance. But, there is always discrimination against the construction sector that provides shelter. No one able to unveil this secret. In the last 10 years, excluding a couple of occasions, the Union Budget had nothing to offer or support the real estate sector. Why does the Union government look down at the construction sector, which is second largest employers after after agriculture sector in India? Why is the government discriminating against the realty sector, which provides contributes a large share of the country’s GDP? What did the industry had done wrong?
Meanwhile, the HMDA is selling land parcels through auction at exponential prices. As a result, the prices have skyrocketed and reached a level where not just the current generation, but even future generations can dare to afford it. In most areas, the auction sale price has become standard. Thus, the middle class are not in a position to realize their dream home. Earlier, the prices of flats in the city center were high, while those in the suburbs were affordable. But, now the difference is fast getting blurred with flat prices hitting Rs 7,000 per sft in Kokapet and also LB Nagar or Uppal. In Banjara Hills and Jubilee Hills areas, the flats are available for Rs 15,000 per sft. In areas like Gachibowli, however, the flats are priced at around Rs 10,000-12,000 per sft.
Only private builders can deliver your dream home!
The Housing Board is defunct. All are aware of the condition of Rajiv Swagruha projects. The existing HMDA has confined itself to land auctions. With the government institutions under these conditions, the onus is on the private builders to deliver affordable housing for the benefit of the middle class. So, why the realty sector is not being supported and instead, being harassed in the name of regulations? Why are there delays in approvals? Why not start a single window? The RERA Act was introduced after developers cheated buyers in North India. But, we don’t have such a culture in Telangana? Why pre-launches are not being prevented, even after the introduction of the RERA Act? But, that didn’t happen either. Moreover, some greedy developers are entering the construction sector and collecting crores of rupees from the buyers. The government should at least arrest these fraudsters and encourage those who are taking up construction works as per norms.
Governments should encourage
It is the private builders who are capable of fulfilling the dream of the middle class people in the State. Hence, the State government should provide them land at nominal cost or hand over the project to the construction companies on public-private partnership (PPP) basis. Only through such measures, the government can bring down the prices of flats or at least announce special incentives to the builders who are ready to construct affordable houses. Only then the government and private employees can realise their dream of owning a house.
No demands were considered!
- Demand to continue 100 percent tax holiday for affordable projects under Section 80 IBA was ignored
- Due to the increase in the prices of construction materials in the wake of global developments, the input cost has also shot up
- Nothing much has been done to attract investments or extend tax benefits to REITS
- The government should give incentives to companies which are committed to the development of green and sustainable buildings
- Despite having an opportunity, no decision was taken on giving income tax exemption to the developers for 10 consecutive years in a block of 15 years
- The successive governments have also failed to sanction the request for infrastructure development status over the years
