Govt mulls graft-free Real Estate Act; CM plans 3000-acre new city near ORR

To avoid corruption and ensure transparency, the Telangana Government was contemplating to bring a new law in the Real estate and construction sector on the lines of TSiPass, Chief Minister K Chandrasekhar Rao has said.

“Business is at ease could be the ultimate aim of the new Act and needs to be formed”, the Chief Minister told a team of Real Estate Federation led by CREDA former president C Shekhar Reddy, Telangana president G Rami Reddy and City president S Rami Reddy, who called on him at the camp office here.

Assuring to resolve their issues, the Chief Minister asked the federation to focus on building a new international city with green field abutting the Outer Ring Road in about 3000 to 4000 acres of land. The new city comprising vicarages, skyscrapers and huge buildings should indicate the speedy economic growth of top nations and states to enable them to rope in for rapid development of Hyderabad, he said. The real estate businessmen are noted for their role in building any city in the world and should now focus on making Hyderabad an international city, KCR said. He exhorted the real estate federation to become a strategic partner in large expansion plan of the city by HMDA and focus on new cities development simultaneously.

“Most of the IT companies, which could not find space in Bengaluru are coming back to Hyderabad. “We need to cater to their needs”, he said. Besides, offering permissions liberally for the new buildings, the government will take serious action on corruption or irregularities through the new Act using flying squads with complete vigilance, KCR stated. (NSS)