Telangana Housing Board: A Beacon of Hope for Middle-Class Homebuyers
With skyrocketing land prices, the Telangana Housing Board's land bank of over 703 acres may be the answer to the middle class's housing dreams.
Telangana Housing BoardMiddleclass HomebuyersAffordable HousingLand PricesReal EstateReal Estate NewsAug 13, 2024
The THB's land holdings are strategically located between the Outer Ring Road and the proposed Regional Ring Road, making them highly valuable. However, the previous government's decision to merge the board with the transport, roads, and buildings department had put a halt on housing projects for the middle class.
The current Congress government is now looking to revive the board's activities, with Deputy Chief Minister Mallu Bhatti Vikramarka hinting at building clusters between the ORR and RRR. However, the board faces a challenge in recruiting engineers to execute the projects, as all technical staff are set to retire by December 2025.
According to Dr Parupally Anjaneyulu, senior research associate at the Centre for Economic and Social Studies (CESS), the creation of new districts has led to an increase in real estate prices, benefiting realtors and making land a pricey commodity. However, he also noted that there are some advantages to this development.
The THB's projects offer a unique advantage to middle-class homebuyers - dispute-free property. Unlike private developers who often take buyers for a ride with pre-launch offers, the board's projects are transparent and reliable.
The government has also acknowledged the board's potential, with 177 employees on its rolls, including 43 regular employees. The board's project costs are determined on a cost-to-cost basis, with administrative costs added for different income groups.
However, the board faces a challenge in recovering dues from government departments, including the commercial taxes department. A total of Rs 126 crore is owed to the THB, which is necessary for the board to take up new projects. Additionally, 3,200 acres of the board's land is locked in a bifurcation dispute with the AP government.
Despite these challenges, the THB remains a beacon of hope for middle-class homebuyers in Telangana. With its land bank and commitment to transparent and reliable projects, the board may finally provide a solution to the state's housing woes.
The government's plans to revive the THB's activities are a welcome move, and it is hoped that the board will be able to take up new projects soon. For now, middle-class homebuyers can take heart in knowing that the THB is working towards providing them with affordable and dispute-free housing options.
The THB's land bank is a valuable resource, and its utilization can go a long way in addressing the state's housing needs. It is hoped that the government will provide the necessary support to the board to enable it to fulfill its mandate.
In conclusion, the Telangana Housing Board's land bank and commitment to transparent projects make it a vital institution for middle-class homebuyers in the state. With the government's support, the board can play a crucial role in addressing the state's housing needs and providing affordable housing options to those who need it most.
Frequently Asked Questions
What is the Telangana Housing Board's land bank?
The Telangana Housing Board has a land bank of over 703 acres, including 573 acres in Rangareddy district.
Why are land prices soaring in Telangana?
Land prices are soaring in Telangana due to the creation of new districts, which has led to an increase in real estate prices, benefiting realtors and making land a pricey commodity.
What is the advantage of buying a house from the Telangana Housing Board?
The advantage of buying a house from the Telangana Housing Board is that it offers dispute-free property, unlike private developers who often take buyers for a ride with pre-launch offers.
How much is owed to the Telangana Housing Board by government departments?
A total of Rs 126 crore is owed to the Telangana Housing Board by government departments, including the commercial taxes department.
What is the future of the Telangana Housing Board?
The Telangana Housing Board's future looks promising, with the government planning to revive its activities and take up new projects. The board's land bank and commitment to transparent projects make it a vital institution for middle-class homebuyers in the state.
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