M Venkaiah Naidu, Union Urban Development Minister
Telengana: The Centre will initiate works to build 100 smart cities in the country by January and will also develop satellite towns in the periphery areas of the city to ease congestion , said M. Venkaiah Naidu, Union Minister for Urban Development, Housing, Urban Poverty Alleviation and Parliamentary Affairs.
Addressing delegates at the inauguration of the Telangana Real Estate Developers Association’s (TREDA) annual conference -‘Resurgent Hyderabad’ -- here on Friday, Mr. Naidu said that by 2050 about 50 per cent of India’s population will reside in urban areas. “Hence, we need satellite towns to ease congestion. Today, major cities like Mumbai are clogged,” he said.
Mr. Naidu also said that the comprehensive housing scheme, under which housing will be provided for everyone in the country, will be initiated by January next. “Under the scheme, Centre will provide one bedroom per house, whereas the Telangana government has said it will build two rooms. We are ready to work together for the project,” he said.
“Also, the Centre has allowed Foreign Direct Investment (FDI) in real estate to boost the industry. However, the government alone cannot develop everything, there has to be a collaboration between the private and public sectors,” he said, and further mentioned that interest rates on housing loans have to be slashed for the industry to grow.
Mr. Naidu said that the Centre is taking steps along with the State governments to ease the processes for NOCs, licences, financing, approvals etc for building infrastructure. “There are multiple agencies from which one has to get permission, and this has to be reduced. And I can assure you that regulations will not become strangulation,” he remarked.
B. V. P. Rao, advisor to Telangana government, P. Dashrath Reddy, president, TREDA, R. Chalapathi Reddy, Sunil Chandra Reddy of TREDA and others were present.