Hyderabad: The Confederation of Real Estate Developers Association of India (Credai) Hyderabad leadership team and managing committee members hailed the Telangana State Legislative Assembly passing the Telangana State Building Permission Approval and Self Certification System (TS-bPASS) Bill.
The real estate body said the bill ushers in revolutionary reforms enabling citizens to commence their building construction through self-certification. It is a self-certification system to make citizens responsible and ensure that they adhere to the building and layout permission rules of the State government.
According to R K Rao, president, Credai Hyderabad, “TS-bPASS is aimed to reduce human interference and bring transparency in issuing building permissions as well as make citizens more responsible. The enactment of TS-bPASS by the government is a landmark reform and the first-of-its-kind in the country.”
Credai Hyderabad said it has played a pivotal role in the formulation of this policy by convincing the government to allow it to appoint a consulting agency EY to study the best practices across the country to help them to frame the policy. After a thorough research and discussion with all the stakeholders over a period of six months, the real estate body submitted its recommendations to the government.
Rao emphasised TS-bPASS will simplify the documentation process by introducing a single application form for NOC across all departments. This reform will shape the way real estate projects will be approved in future, significantly increasing the ease of doing business.
Adding to this, V Rajashekar Reddy, general secretary, Credai Hyderabad said, Telangana government has taken a series of measures to help the real estate sector over the last few months. The government has swiftly acted on the revenue side by making the right moves in making registration and mutation of agricultural and non-agricultural properties easier, more transparent and accountable.
Also, a parallel initiative by the government, on the municipal side, to curb sale of illegal plots, layouts in Telangana, and promoting the buyers to buy RERA approved projects will go a long way in building the buyer confidence and spurring the growth for the real estate sector in the city.
Over the past month, the State has attracted investments totalling Rs 5,950 crore across sectors. “More investments are expected over the next two months as several companies are holding talks with the State government seeking necessary land and other support in terms of infrastructure and incentives,” added Reddy.
