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Telangana to Enact Law to Regulate Real Estate Sector

Published: 02nd November 2014 06:04 AM  |   Last Updated: 02nd November 2014 06:04 AM   |  A+A-

Real-Estate-Sector

HYDERABAD: Uncertainty in Telangana is over and the state now has a positive chief minister for the development, special chief secretary (industries and commerce) K Pradeep Chandra has said. After unveiling the logo of Hyderabad Realtors Association (HRA), which was formerly AP Realtors Association, here on Saturday, Pradeep Chandra said chief minister K Chandrasekhar Rao had good plans and ambitious programmes for development.

The Water Grid, rural road connectivity and other programmes would also boost real estate in the state, he said. Officers sitting at their desks could not develop the state and they need to work with various groups, including the real estate sector.

Municipal administration principal secretary SK Joshi said Telangana would be the first state to enact a legislation for regulating the real estate sector. Administration should not hamper, but accelerate the pace of development, Joshi said and added that the TS government was here to help the HRA make Hyderabad a global brand.

HRA president Vijay Sarathi said realtors would work round the clock to promote Brand Hyderabad. “We are quite passionate about Brand Hyderabad. When an opportunity came to re-brand ourselves, we have proudly chosen the name HRA to reaffirm our identity and commitment to this city. Hyderabad’s development has long been a major contributor to the creation of employment and financial prosperity, and the industry as a whole continues to be a major force helping the vibrant city remain as an important metro in South India,” Vijay Sarathi said.

National Association of Realtors (NAR) president Hira Lal Bagra said they wanted Union minister M Venkaiah Naidu to recognise real estate as an industry. Venkaiah Naidu was in touch with the Union commerce minister and they were hoping that the real estate sector would get industry status soon. NAR chairman PSN Rao and realtors from several cities across the country were present.

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