Ramky, Suprabhat Plots And Villas Can Now Be Registered For Buyers; Developers To Pay Government Dues

Hyderabad: The joint venture (JV) housing projects between the government and private developers are poised to resume registration in the names of buyers as they agreed to pay all the dues to the Telangana government.
The Cabinet Sub-Committee held meeting with Ramky, Suprabhat and other developers.

The Cabinet Sub-Committee met at the Secretariat gave permission in-principle on condition that the developers will have pay to the Housing Department dues and revenue share from the project. Now, after the latest Cabinet meeting, the builders have to to pay revenue share and various taxes to the State government as per JV norms.

The government had also reviewed the current status of Ramky projects at Gachibowli in Hyderabad and Warangal. The Sub-committee has also observed that Ramky failed to complete the housing project meant for weaker sections in Gachibowli.

The State government on Wednesday gave conditional permission for developers to register plots and villas in the names of buyers pertaining to JV projects in Hyderabad and Warangal as the builders have agreed to pay dues to the government and complete other stipulated formalities.

The Cabinet Sub-Committee met at the Secretariat gave permission in-principle on condition that the developers will have pay to the Housing Department dues and revenue share from the project.
Now, after the latest Cabinet meeting, the builders have to to pay revenue share and various taxes to the State government as per JV norms.
Ramky agreed to the government’s conditions and will pay all the dues.

The State government will also get Rs 49.65crore from project in Warangal. Suprabhath developers will pay Rs16.44 crore to the State government.Previous Congress government in undivided AP allowed over 19 JV projects in united AP and majority of them are still incomplete. Subsequently, the Telangana government has also halted the registration process for buyers of plots and villas until the developers clear all the arrears owed to the State government.  

The State will get Rs37 crore revenue share and Rs70crore under registration, VAT and other taxes from Ramky. The State government has directed Ramky to surrender rest of 2.65 acre land or pay at market price with interest.
The State government will also get Rs 49.65crore from project in Warangal. Suprabhath developers will pay Rs16.44 crore to the State government.

Previous Congress government in undivided AP allowed over 19 JV projects in united AP and majority of them are still incomplete.
Subsequently, the Telangana government has also halted the registration process for buyers of plots and villas until the developers clear all the arrears owed to the State government.