Real estate is the only sector wherein entrepreneurs from Telangana are present in large numbers, says Credai Hyderabad president Ram Reddy.
Real estate sector in Hyderabad has gone through sluggish phase till 2014. That was obviously due to the Telangana movement. How is the sector doing now?
Obviously, there was an impact on the sector during the movement. The sector is back on growth track now. I am proud to say that building construction and real estate sectors are the only areas where entrepreneurs from Telangana are present. It is a fact that there are not many from Telangana in industrial and service sectors. That way, we are holding Telangana flag very high in this sector. We have to admit that Telangana is very poor and people here are not rich compared to their Andhra counterparts. The Telangana government took up irrigation projects on a large scale. It should continue such developmental activities at least for a decade more. Then, Telangana will march forward.
Some say there is an artificial realty boom in Hyderabad and its surrounding places and the boom may burst in a few months. What do you say on this?
That’s absolutely wrong. People who say so are ignorant about the sector. If we go back and see what the property prices were in 2008 and 2009, we know the reality. Property prices in Hyderabad have not yet reached that level. People who bought properties in 2009 have not seen any appreciation in value till now. My understanding is that city will continue to expand, and property prices will go up by at least four times from the current levels in a decade and that’s the potential the city offers. Given the ideal climate, geographical conditions and infrastructure the city has, it should have grown into the biggest city in South India and third biggest in India long back. Hyderabad will outpace Bengaluru and Chennai and emerge as third largest city in India in not so distant future.
