CM Inaugurates APREDA 2012 At HITEX

Chief Minister N Kiran Kumar Reddy on Saturday claimed that the state government was constructing more houses in the state than the entire real estate sector.

Speaking after inaugurating the “APREDA Property Show 2012” organised by the Andhra Pradesh Real Estate Developers Association (APREDA) in association with the Jones Lang LaSalle at the HITEX exhibition ground, the Chief Minister said that the government was in the process of constructing more than 10 lakh houses, which are at various stages of construction. He said that the Indiramma Housing was one of the flagship schemes of the state government.

The Chief Minister said that the state government aims to make Andhra Pradesh a 'Hut-free' state. Therefore, he said that the government was focused on providing permanent housing to the homeless poor.

Union Minister for Tourism K Chiranjeevi advised realtors to also focus on taking up mega projects in the Visakhapatnam and East Godavari districts. Housing Minister N Uttam Kumar Reddy, Municipal Administration and Urban Development Minister M Maheedhar Reddy also spoke.

The two-day property exhibition had 188 stalls with leading real estate developers and builders showcasing their latest properties of prices ranging from Rs. 4 lakhs to Rs. 4 crores to prospective buyers. During the previous year, the APREDA property show had registered over 40,000 visitors and this year the count has increased to more than 50,000. It also featured a global seminar on “Real Estate - Accelerating the Growth Story” at HITEX exhibition grounds.

Apart from builders, 15 leading banks and housing financial institutions like LICHFL, SBI, India Bulls, DHFL, HDFC Ltd, ICICI, SBH, Syndicate Housing Finance, Can Fin Homes, Axis Bank, IOB, Central Bank of India, Federal Bank, and Punjab Housing Finance participated in the property show so that prospective buyers can enquire about loan rates, and apply for suitable loans under one roof.

According to APREDA President P Premkumar, the Property Show 2012 has received an overwhelming response from the real estate fraternity and prospective buyers. The turnover rate has increased substantially as the real estate has become a hot investment option despite volatility in the market. (INN)