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Telangana: Cabinet panel to file report on stalled joint venture houses

The sub-committee comprises ministers A. Indrakaran Reddy, Etala Rajender and P. Mahender Reddy.

Hyderabad: A Cabinet sub-committee that met here to find a way out of the logjam affecting joint venture housing projects has decided to submit recommendations to the government to resolve pending issues.

The projects launched by the TD and Congress governments in the city in partnership with private realty firms are not complete even after a decade. Semi-complete projects could not be registered in the name of buyers as builders have to pay the government.

The sub-committee comprises ministers A. Indrakaran Reddy, Etala Rajender and P. Mahender Reddy.

Mr Indrakaran Reddy said, “We need to protect the interests of the buyers and government.” The builders owe over Rs 1,000 crore due to which property registration was blocked. The panel favours announcing a one-time settlement scheme for builders.

( Source : Deccan Chronicle. )
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