KT Rama Rao stated that the Hyderabad office space sector has expanded almost four times over the past six years, since the annual trade space absorption has now reached 1.2 million square meters, out of 0.3 million square meters six years ago.
The minister at the Real Estate Summit 2020, organised by industrial bodies CREDAI Hyderabad, TREDA, Telangana Developers Association and the Telangana Builders Federation said new investments were being carried out in Hyderabad due to security and protection.
In the last six years, TS has invested approximately Rs 67,000 crore on various development projects that have enhanced living standards and also helped attract new investments.
Hyderabad’s Proposed Developments
The Minister of MA&UD announced that the registration has started for non-agricultural lands. The operations in Dharani is helping to unlock the value of the land which can be used for housing loans or new loans to collect. He added that the government would extend the property tax net by regulating structures. About 1.5 crore acre was agricultural lands are present and about 90% records available in Dharani.
In order to cope efficiently with encroachments, the Government plans the digital survey of all properties that properly mark limits, along with latitudes and longitudes. In order to reduce the load on Jawahar Nagar, two new dumpyards at Lakdaram and in Parrynagar are expected. Nalas, lakes and Musi will adopt a strategic development plan to avoid flooding. It is expected to take approximately three years.
Adding to the major brands present in Hyderabad, the Goldman Sachs Group, a multinational investment banking, securities and investment management company that offers a range of financial services to companies, financial institutions, governments and individuals, has chosen the city for its operations.
The TS-bPASS, which was initially introduced in Telangana, is the single-window approval mechanism in the real estate market, would boost industry growth and attract investment. Moreover, Chief Minister K Chandrashekhar Rao's revenue, Municipality and Integrated Township Actions would bring significance to the sector.
By: Shailaja K