In a major respite for buyers of commercial and residential properties that were developed on Telangana Housing Board (THB) land through joint venture with various developers, the Telangana government has now allowed registration of such existing and prospective properties from next month.
The respite comes after GO No 1061, which was issued in May 2016, came into force recently after the Telangana Housing Board issued a letter dated May 7, 2022, to developers of over a dozen JV projects granting permission to proceed with registration formalities.
This includes five projects of Universal Realtors such as Botanika, Platina, Radisson Hotel, Manjeera Trinity, among others, that were developed on about 20 acres of THB at Gachibowli.
According to MP Agrawall, director of Universal Realtors and chairman of Koncept Ambience Group, discussions were held with THB vice chairman and housing commissioner and all matters pertaining to commercial and technical issues were resolved between THB and the JV partners.
“Customers of these projects can now start smoothly registering their properties from July 2022 onwards subject to fulfilling of terms and conditions of the settlement,” Agarwall added.
He said upcoming projects of Universal Realtors in vicinity of Gachibowli have also received clearance. JLL managing director – Hyderabad, Sandip Patnaik said once registration commences, these properties will see appreciation as they are currently underpriced.