Hyderabad: Stringent GHMC law could be rolled out by Telangana government by January 2021 over encroachment of lakes and nalas, said MA&UD Minister KT Rama Rao, Monday.
KTR asked the GHMC officials to take up detailed study on all lakes and nalas in the state, keeping in mind the damage caused by the recent floods in Hyderabad last month.
KTR also said that the city needs a solution for over flooding caused by the encroachments. He also added that cities such as Bengaluru, Chennai and Mumbai, which have seen rapid urbanisation in the past too have witnessed such crisis.
KTR: Keep the real estate prices affordable
Requesting real estate developers and industry leaders to keep the real estate prices affordable, KTR said that the city is consistently growing in the real estate and for providing best quality of living and affordable real estate.
“Developers should ensure that we don’t lose the USP (unique selling proposition) of the city’s real estate as an affordable city. This will impact investments and buyer sentiment in future. Let us not rush and get into the rat race of hiking property prices. We will lose the advantage of being an affordable city,” KTR added.
Highlighting the recent Knight Frank report that showed Hyderabad’s office absorption quadrupling from 0.3 million sq m in 2014 to 1.4 million sq m in 2020, he said, Bengaluru saw a marginal growth from 0.9 million sq m in 2014 to 1.4 million sq m in 2020. Hyderabad certainly has an edge over other counterparts in India and the developers should help the State retain that, the Minister said.