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CM proposes new law to curb irregularities in reality sector

Chief Minister K. Chandrashekar Rao has stressed the need for a new law to prevent irregularities and maintain transparency in the construction and reality sectors. He said that the new law should on the lines of TS-iPASS introduced by 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 that the real estate sector plays a major in the development of any city in the world. He urged the real estate players to contribute in making Hyderabad a global city. He advised the realtors to form a federation to develop a Special City on 3-4 acres of land near Outer Ring Road. He informed the delegation that the State Government was coming up with Health City, Pharma City and Film City soon.

KCR said that Bengaluru has become too congested for the IT sector and therefore, many companies are moving to Hyderabad. He said people related with realty sector needs to play an important role in capatalising the opportunity.

The Chief Minister said that 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 Dr. 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. (INN)