Credai TS urges govt to redesign masterplan

Hyderabad D Murali Krishna Reddy, the newly-elected Chairman of Credai Telangana urged the State government to redesign masterplan as there had been uneven increase in land prices.

Reddy further told media that the real estate in Hyderabad has growing tremendously.For instance, not only people of Telangana State but whole country is talking about the Kokapet’sNeopolis land auction. The Hyderabad has beaten all the metropolitan cities by crossing Rs 100 crore for oneacre mark.”

Krishna Reddy however said that there is need to think why rates of land is increasing in certain areas. The present government has not redesigned the masterplan which was developed in united Andhra Pradesh. As consequence, some zones are getting much demand, he added.

“So, we request government to redesign the masterplan according to present situations and also request to abolish special zones in the State capital,” he added.

E Premsagar Reddy, president, CredaiTelangana, said, “We are happy that the TS RERA committee has been setup in the State and we are now sure that there will be concrete efforts to curb pre-launch sales”.

On Friday, Confederation of Real Estate Developers Association of India (Credai) Telangana elected the new office bearers, and Credai Telangana Youth Wing committee for a tenure of 2023 to 2025.

The new team set the agenda by announcing an increased focus on builders’ unity, expansion of its network to more districts in the State with a focus on empanelling responsible builders and assist them and their teams to upskill and be prepared for the increasing demand for housing in the other districts.