Hyderabad Real Estate Faces Setback Due to High-Rise Project Approval Delays
Obtaining permissions for high-rise buildings has become increasingly difficult. While regular building projects are already plagued with issues, the dream of affordable housing is becoming more complex due to stringent regulations and interference from influential individuals.
Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) faces challenges approving major construction projects. Obtaining permissions for high-rise buildings has become increasingly difficult. While regular building projects are already plagued with issues, the dream of affordable housing is becoming more complex due to stringent regulations and interference from influential individuals.
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Delays in Approvals for High-Rise Projects
Scheduled meetings to approve high-rise projects, which should occur every 10 to 15 days, have not been held for several months.
- Pending Applications: Applications for building permits are piling up without any action.
- Neglect by Authorities: The absence of meetings has led to delays, forcing property developers into prolonged waiting periods.
Political Interference and Issues
The state Congress party is accused of hindering these projects for political gain.
- Past Criticism and Current Actions: Congress leader and Chief Minister Revanth Reddy, who previously accused the BRS government of corruption in high-rise projects, is now being accused of deliberately stalling these initiatives, negatively affecting the real estate sector.
- Projects Along the ORR (Outer Ring Road): Major projects planned along this area have been stalled due to the lack of approvals.
Issues with Meetings and Regulations
According to regulations, HMDA must hold weekly or biweekly meetings to clear high-rise building applications. However:
- Complaints of irregularities: Recent disputes over the city’s stormwater drains, lakes, and buffer zones have led to negligence in processing high-rise projects.
- Height Restrictions: Buildings taller than 18 meters require special permission in areas near drains or lakes. The lack of meetings has caused significant delays in processing such applications.
Impact on Real Estate
Experts believe that the suspension of approvals in Hyderabad severely affects property transactions. The city, a hub for real estate, risks losing investor interest due to these ongoing issues.
Conclusion
The current situation raises serious questions about the government’s efficiency and highlights the urgent need for action to resolve these challenges in the construction sector.
