TDR turns lifeline for major projects in Hyderabad – ET RealEstate

HYDERABAD: Despite the pandemic denting the coffers of the Greater Hyderabad Municipal Corporation (GHMC), transfer of development rights (TDR) turned out to be the biggest lifeline for the city ensuring execution of several infrastructure projects.

The civic body saved over Rs 1,500 crore towards cash compensation due to TDR and ensured projects — especially construction of link roads and flyovers — were executed on time, officials said.

Amid restrictions, owing to the spike in Covid-19 cases, the scheme turned into a win-win situation for property owners, builders, developers and government.

Though TDR concept was introduced a decade ago, till mid-2019, only 115 TDRs were issued. However, with introduction of new policy in 2017 and subsequent amendments, officials said that the property owners opting for TDRs increased along with increase in the city’s infrastructure works. Till date, 807 TDRs have been issued.

TDR is made available for certain additional built-up area in lieu of the area relinquished or surrendered by the land owner, so that he can use extra built-up area or transfer it to another for a sum.

“Apart from additional property value, the provision to sell or purchase TDR has also been an attractive factor. Under the scheme, the extra built-up area could either be utilised by the property owner or sold to others which is a reason builders and realtors come forward to opt for TDR,” said a GHMC official.

Though the TDR concept was introduced a decade ago, the government had issued a GO in 2017 and extended more benefits for property owners.

Speaking at a review meeting at the GHMC headquarters this week, municipal administration and urban development minister KT Rama Rao asked officials said that link road works and the Comprehensive Road Maintenance Programme were progressing on fast track.

He said, “A TDR worth Rs 2,800 crore was submitted for various land acquisitions. The officials are reviewing work under the SRDP as well. As many as 21 works taken up under SRDP have been made available for public while another 17 works would be completed soon.”

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No match to Telangana’s housing scheme in entire India: KT Rama Rao – ET RealEstate

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HYDERABAD: Municipal administration minister KT Rama Rao said that no other state in the country has taken up the housing programme like Telangana has done.

“No other state since Independence has taken up such a massive slum-free initiative in Hyderabad. The government has taken up construction of one lakh 2BHK houses at a cost of Rs 9,714 crore,” said KTR after inaugurating 324 2BHK houses in Vanasthalipuram. He formally handed over the keys to the beneficiaries on Wednesday. The houses in Vanasthalipuram were built at Rs 28 crore.

“The state spent around Rs 9 lakh on each flat. The market value of each flat ranges from Rs 40 lakh to Rs 50 lakh,” KTR said.

Earlier, the minister was not part of an inauguration of a project built under Strategic Road Development Programme (SRDP) in Malkajgiri Parliament segment.

At Wednesday’s event, TRS corporators who lost against BJP candidates in GHMC poll shared the dais with KTR. BJP corporators, who won the poll, did not attend the programme.

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Foundation stone to be laid for IT Park at Kompally soon: Telangana IT minister – ET RealEstate

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HYDERABAD: Municipal and IT minister KT Rama Rao said that the state government would expand IT to Tier II cities. He said the foundation stone will be laid at the IT hub at Kompally in Medchal-Malkajgiri district soon apart from the inauguration of IT tower in Khammam on Monday.

The minister said there was an overwhelming response for the Growth in Dispersion (GRID), which was proposed to focusing on promoting dispersed growth across Greater Hyderabad especially at the places like Nacharam and Uppal industrial areas.

A day after GHMC elections results, KTR, who is also TRS working president, went back to routine after a gap of nearly a month and held a review meeting on IT and Ease of Doing Business with officials on Saturday.

KTR said the state government had already initiated measures for expansion of IT to towns like Warangal, Khammam and Mahbubnagar. “Two companies are evincing interest in setting their shops in Warangal in the second phase. The Telangana State Industrial Infrastructure Corporation (TSIIC) should make arrangements for providing infrastructure facilities at the IT tower in Warangal,” the minister said. He also instructed TSIIC managing director EV Narasimha Reddy to complete the land acquisition process for IT park at Kompally at the earliest where the revenue department had identified the land and arrangements are being made for laying the foundation stone.

Officials informed that many IT firms are coming forward to set up their offices at Divitipally in Mahbubnagar district. The minister also spoke to chief secretary Somesh Kumar and asked him to support the firms that have plans to set up IT firms under GRID policy.

KTR instructed Industries department commissioner Manicka Raj to make sure that Telangana gets the top position in EODB. “Due to some technical reasons, the state could not get good ranking in EODB, this time the Telangana should be on top rank. Coordinate with the various departments,” the minister said.

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Goldman Sachs to open office in Hyderabad, second in India – ET RealEstate

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HYDERABAD: Investment banking firm Goldman Sachs has identified the city as a new location for its global shared services footprint in India.

“The new Hyderabad office will be the second location for Goldman Sachs Services in India, and will complement the Bengaluru office footprint in terms of both execution and support that it will provide to the firm’s businesses globally,” a release from the state government quoted the firm as saying on Thursday.

Representatives of Goldman Sachs, in a video conference, interacted with Telangana Minister for IT and Industries KT Rama Rao and explained their plans to come to the city, the release said.

The new office is expected to become functional in the second half of 2021 with about 500 employees, and has potential for future growth.

It will leverage the expertise of the existing leadership in the Bengaluru office, while investing in a strong pool of competitive world class local talent, it said.

Key criteria for the new office location included the availability of commercial real estate and housing for employees, a diverse talent pool, quality infrastructure in the city, and support and commitment from the state government, Goldman Sachs said.

KTR stated that the government will provide complete support to the firm in their future ventures, the release added.

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