Real Estate in the Capital city already suffered a severe slowdown in the past couple of years. This segment has pinned high hopes on rival with the state bifurcation and are eagerly waiting for 2015. But the state government’s recent decision only complicated issues further for the segment in Hyderabad.
The state government is mulling on a rule that every construction in the capital will need to take the permission of the government along with that of GHMC. While Real Estate developers are demanding for ease of permission rules for a long time, government just complicated them further. However government defends its step as vital to keep check to illegal constructions in the state.
However Real Estate developers say this process will only delay the permissions time and new headaches of corruption etc. They are gearing up to take up this issue with the Chief Minister very soon.
