Telangana government will soon digitise every inch of the land mass to clean up the land records and put an end to the malady of “double and triple registrations” in Hyderabad and elsewhere and this is the larger goal behind the launch of the ‘Dharani’ portal, said Minister of IT, Municipal Administration and Urban Development K.T. Rama Rao on Friday.
Chief Minister K. Chandrasekhar Rao is also seriously looking at “streamlining and regularising” properties belonging to Wakf, Urban Land Ceiling, Notarised ones and others to “unlock” the nine lakh properties for the owners in the twin cities and bring them into the government register so that property taxes can also realised later, he explained.
The Minister was participating in the Confederation of Real Estate Developers’ Associations of India (CREDAI) Hyderabad’s ‘The Real Estate Summit 2020’ in association with Telangana Real Estate Developers' Association (TREDA), Telangana Builders Federation and Telangana Developers Association.
Mr. Rama Rao said he was conscious of the problems being faced by the real estate developers about the stoppage of registrations of non-agriculture properties leading to cash flows and liquidity. “There are some teething problems but if necessary I will take up the issue with Chief Minister and convince him to resort him the old methods for sometime till the Dharani portal becomes fully functional,” he said.
A survey had shown there are 60 lakh properties in the rural areas in TS but without any land title or registration. Unlocking the value of these properties would be of great help to the owners, he pointed out. The government’s reforms was to bring in accountability and transparency in governance to benefit the citizens at large and even the private sector. Once the portal becomes functional, it will change the way the country does land registrations and mutations, he claimed.
Research Agency CBRE conducted a session on Alternate Asset Class - warehouse, data centers, retail, co-living and co-working, retirement homes, highlighting the emergence & future requirement of these asset-classes. Knight &Frank shared insights on the trends in the residential Market in the city and JLL conducted a session on Capital Market & Office Space- six years growth of Hyderabad, influencing factors and the outlook for the future.
“The real estate sector is the second largest contributor to the GDP and also contributing to the growth, revenue generation and employment, critical factors to progress of TS. We are thankful to Chief Minister K Chandrashekar Rao and his team for the series of reforms to streamline the approval and operational processes through various schemes,” said CREDAI-Hyderabad president P Ramakrishna Rao.
“TS Government initiated the process of updating, verifying and digitising of land records. With introduction of TS-bPASS - a single-window approval system, we are hopeful of more growth in real estate in the coming few years and maintaining the USP of the low price,” said CREDAI TS president Ch. Ramchandra Reddy. President of Telangana Developers Association P.V. Rao and TREDA president R Chalapathi Rao also spoke.
