The Telangana Government stated that it will bring stringent laws into effect under GHMC Act, with a specific regulation. The MA&UD Minister KT Rama Rao said there would be clear laws on the encroachment of lakes and nalas.
Proposed Stringent Regulations GHMC Act
By January-February 2021, the new law will be enforced by the government. The Minister stated the officials that he was seeking a detailed analysis of all lakes and nalas within GHMC limits, taking into account the destruction caused in Hyderabad by the recent floods.
The government believes that the encroachments leading to floods in the city's colonies need to be addressed. The cities like Bengaluru, Mumbai and Chennai have experienced such crisis in the past too.
KT Rama Rao has also requested real estate developers and industry leaders to sustain affordable real estate rates. The city has seen steady growth in real estate, and its best living standard and affordable property have made it prominent.
Developers should ensure that they do not lose the USP ((unique selling proposition))of the city real estate as an affordable city. Investment and buyer sentiment will be affected in the future if they rush into the hiking property prices also it will result from losing the ability to be an affordable city.
Highlighting the recent report on Hyderabad's office absorption, the Minister stated that Hyderabad has a certain superiority over other Indian counterparts and developers should help the state uphold this.
By: Shailaja K