The State government has extended the validity of building and layout permissions till March 2021, besides facilitating payment of development and capitalisation charges in instalments.

Municipal Administration and Urban Development (MA&UD) Minister KT Rama Rao has recently held a meeting with developers, builders and real estate bodies and assured the industry of all support to ensure things continue to remain steady.

During the meeting, the builders and developers brought to the notice of the Minister the hardships being faced by them due to the migrant crisis, delay in supply of materials and other aspects.

Accordingly, the State government issued orders on Wednesday extending the validity by a year for all building and layout approvals whose validity expired on March 25, 2020, or is going to expire up to March 31, 2021.

This extension is being facilitated without payment of any fee, and builders or developers do not have to file any additional applications.

This apart, the government has facilitated payment of building permission fee and betterment, development and capitalisation charges in instalments (subject to post-dated cheques and mortgaging additional built-up area) to the Greater Hyderabad Municipal Corporation or the HMDA for all permissions till March 31, 2021.

Also, if any builder or developer is willing to pay the entire amount upfront at the time of issue of building or layout approval, a 5 per cent rebate is offered.

All charges can be paid in four half-yearly equal instalments, and the first instalment should be paid within 30 days from the receipt of intimation letter. In case of instalments not paid in time as per post-dated cheques, then the same shall be paid along with 12 per cent interest for the delayed period.

The move is being hailed by the industry. “Telangana happens to be the first government to extend such support to the real estate sector during the corona pandemic. This goes a long way in boosting the confidence of builders and developers, and the industry on the whole,” said CREDAI-Hyderabad general secretary V Rajashekhar Reddy.

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