Hyderabad Real Estate poised for a meteoric growth: CREDAI

Hyderabad, Aug 21 (INN): CREDAI, the Confederation of Real Estate Developers’ Associations of India, country’s apex body of private real estate developers, foresees a highly positive outlook for real estate in Hyderabad.

“The sector is poised for a meteoric growth. The government under the leadership of K Chandrasekhar Rao is actively promoting “Brand Hyderabad” so as to transform it into a “Global Smart City”, said CREDAI National President C Sekhar Reddy here on Thursday.

Meanwhile, the CREDAI Hyderabad has announced the opening of the CREDAI Hyderabad Property Show 2014, its third edition, on 29th August at Hitex, Madhapur. The Property Show will be held from 29th to 31st August, where 150 leading developers, financial institutions and other stake holders will showcase their wide range of housing projects and services to the prospective home buyers. This is coming up against the background of high priority the central and state governments given to the real estate sector.

“The new government at the Centre has given a very high priority to the real estate sector by announcing that its mission is to provide pucca housing for all by 2022. The Central Budget, 2014, proposed the development of 100 smart cities. The FDI norms have been liberalized to meet the growing housing needs in the country. With a development focus in the union budget and steps like relaxation in norms of CRR & SLR by RBI, the housing sector will grow. Bringing affordable housing project finance and home loans upto 50 lakhs in 6 metros including Hyderabad, under priority sector lending (PSL) will give a major boost to the small and medium developers which cater to the affordable housing segment. The guidelines for REITs, the Real Estate Investment Trusts, have been announced by the SEBI. All these will boost the demand for housing and prices will increase,” Sekhar Reddy said.l

Presently, the real estate prices in Hyderabad are the lowest and the CREDAI Hyderabad Property Show is just in time, much before the prices would start going up as a result of higher priority given to the Sector by the government, RBI and SEBI. Even the Telangana government has promised to provide a two-bedroom house to the homeless. It is promoting Hyderabad as an attractive investment destination for housing, industry, IT and other services. It is the best time to purchase a property in Hyderabad as we expect prices to go up steeply in next few months, he said.

CREDAI General Secretary S Ram Reddy added, “Hyderabad has a population of about 8 million and with ITIR coming up in 50,000 acre, which is likely to employ almost 15 lakh people directly and about 53 lakh people indirectly in the next 2 decades. The population will go up by 100%. That means the Hyderabad will double in size, pushing up the demand for housing enormously. The government is planning to add four bus and rail terminals at 4 corners of Hyderabad, and is planning to increase the metro rail network in the city to 200 km. Hyderabad is going to be an incubation hub for entrepreneurship, and will have a Pharma City, Sports City, Cinema City, Manufacturing city, Education city and a Health City. All will this spur rapid growth in employment and housing. This will take “Brand Hyderabad” to a new orbit. It is a golden opportunity for the consumers to make the most of the present rock bottom prices at Hyderabad and hence advisable to buy a property this festive season.”

Meanwhile, Sekhar Reddy said that the CREDAI planning to construct 5,000 toilets in each of the 22 States across the country as part of Corporate Social Responsibility. A final decision in this regard will be taken soon.