Measures for decentralized growth in Hyderabad

The real estate in the city is remarkably booming despite the Covid pandemic causing huge havoc worldwide. Builders and developers from the city are planning to approach the state government in regards to their plans for decentralized growth to suggest measures for effective implementation of growth plans. 

The Department of IT and EC had unveiled the Grid Policy last year to ensure exponential growth witnessed in IT and ITES sectors. A member of CREDAI, Telangana chapter said “for a mid-size IT firm, the government could explore the possibility of cutting down the prerequisite of at least 500 employees to 250 employees, to be eligible for various incentives.  

The annual cap fixed on power and lease rental subsidy should also be relaxed.”Since developers were taking up projects at a huge risk, the government could permit payment of conversion charges in EMIs. 

Another developer suggested extending incentives and permitting non-IT companies to set up their businesses as social infrastructure and quality housing would be a prerequisite for IT companies for convenient relocation of employees. He suggested social infrastructure development like recreation parks, foot overbridges, malls, hospitals, multiplexes, etc. 

The Grid Policy, which was intended to provide more cost-effective office spaces to IT companies, better connectivity, and convenience to their employees, now needs some rearrangement post the pandemic.