- IT and government policies behind Hyderabad realty
- Affordable house cost Rs.50-60 lakhs
- 40 thousand new homes every year.
- Credo Property Show from 31st
- another five years real estate boom
Hyderabad : The real estate sector in Hyderabad has witnessed tremendous growth in the last five years. It will continue to grow at a similar rate over the next four to five years. “The growth in the IT and IT based industry, sustainable government and government policies has contributed to this,” said V Rajashekhar Reddy, General Secretary of Confederation of Real Estate Developers Associations of India (CREDAI) Hyderabad.
International companies are making Hyderabad the hub. Huge co-working space is being set up. There is an availability of experts. This will provide employment opportunities. Demand for housing is growing. More new projects could be coming in the next four years. They can build 30,000-40,000 new homes every year. He was speaking at the launch of the Creday Hyderabad Property Show in Hyderabad.
The Telangana government will implement the TS Building Approval and Self Certification System (TS BIPS) in one and two months, enabling the building plan to become more transparent and timely. “It takes nearly two years to get all the approvals for big projects. He said that the government is taking steps to develop all areas of Hyderabad.
For the ninth time ..
The ninth Hyderabad Property Show will be held from January 31 to February 2 at the Hightex in Madapur, Hyderabad. Developers, realtors, building material manufacturers, consultants, banks and financial institutions will be involved. The Creday Hyderabad Property Show is the perfect venue for home buyers to choose the right home and get a loan soon. About 15,000 homes will be for sale by various realty companies. Banks, realtors and financial institutions will set up nearly 100 stalls. More than 50 thousand visitors are expected to visit the property show.
Why is there no slowdown effect ..
Telangana GDP is growing at 9%. This is high compared to other states and cities. Creda Hyderabad President P Ramakrishna Rao said that the slowdown in the real estate sector of Hyderabad has no impact on the economy. If the TS Bipass comes into force, small projects can be cleared within 21 days and projects in Telangana are getting clearance faster than anywhere else.
“We will get 1.5 crore square feet of office space in the office space this year,” Aditya Gaura, Treasurer of Hyderabad, said. He said the rise in house prices was due to increased space and construction costs.
In the past, a home worth Rs 25 lakhs in Hyderabad was affordable.
Aditya said that Hyderabad has topped Bangalore in the office space category and the average lease cost per square foot here is 30 per cent lower. Credo Hyderabad Vice Presidents Seiji Murali Mohan, Kacham Rajeshwar, Venu Vinod and N Jaideep Reddy were present on the occasion.
