Revenue Minister A. Satya Prasad on August 8 (Thursday) said the State government “is committed to solving the problems faced by the real estate sector”
He was responding to a plea made by the representatives of the National Real Estate Development Council (NEREDCO), who met him at the Secretariat and apprised him of various issues faced by the industry.
The Minister acknowledged that along with lakhs of workers, many other sectors also depended on the construction sector.
Council’s State president G. Chakradhara Rao said the policies brought in by the previous YSRCP government had adversely affected the real estate sector, and urged the TDP-led coalition government to repeal them. He said the LPM number system was of no use, and it was rather causing new problems.
Council’s central zone president Sandeep Mandava urged the Minister to increase the Non-Agricultural Land Assessment (NALA) and bring down the financial burden on the developers by waiving registration charges for Joint Development Agreement (JDA).
NAREDCO’s State executive vice-president Kiran Paruchuri said registration charges should not be increased for at least one year and rules should be simplified to encourage joint development projects.
The council members appealed to the Minister that land calculation be taken in acres while converting agricultural land for domestic use.
Responding to their plea, the Minister said that Chief Minister N. Chandrababu Naidu was positive about solving the problems plaguing the real estate sector, and assured them a high-level review, in coordination with all departments, to find solution to their problems.
