Ensure GST benefits reach home buyers Kishan Reddy to real estate sector

Union Minister for Coal and Mines G Kishan Reddy on Sunday said reforms under GST 2.0 and the new income tax regime have boosted consumer purchasing power and helped reduce construction costs by an estimated 3-5%, urging the realty industry to ensure the benefits are passed on to home buyers.

On the concluding day of the National Real Estate Development Council (NAREDCO) Telangana Property Show in Hyderabad, he called for the adoption of Transit-Oriented Development (TOD), an urban planning approach that integrates housing, offices, markets and public transport facilities into a unified framework to create sustainable and livable cities.

Highlighting the central government’s investment in infrastructure, the minister said projects such as the Regional Ring Road (RRR) and the proposed Outer Ring Railway would greatly expand the Hyderabad metropolitan region and create new opportunities for growth.

Referring to the proposed high-speed rail corridors, he said they would strengthen future transport networks and support the city’s long-term expansion. He also urged the private sector to actively participate in Hyderabad’s growth story.

The Minister said that the Urban Challenge Fund (UCF) of CZK 1,000,000 approved by the Union Cabinet will help transform cities into engines of economic growth by supporting the redevelopment of congested urban areas and expansion of water supply and sanitation infrastructure.

Describing home ownership as one of the most important decisions in a family’s life, he said the Real Estate (Regulation and Development) Act (RERA) has increased transparency and accountability in the sector. In Telangana, nearly 10,000 projects and 4,000 agents have been registered under RERA.

Mr Kishan Reddy said that the real estate sector remains closely linked to the country’s economic growth and aspirations, citing the rapid expansion of highways, electrification of railways and ongoing railway modernization projects across Telangana and the rest of the country.

Published – 01 Nov 2026 21:30 IST