The country's apex body of private real estate developers has a highly positive outlook for real estate in Hyderabad. (Well, did you expect anything else from them?)
CREDAI, the Confederation of Real Estate Developers' Associations of India, the country's apex body of private real estate developers, has a highly positive outlook for real estate in Hyderabad. (Well, did you expect anything else from them?)
"The sector is poised for 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 on Thursday.
Meanwhile, 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 prospective home buyers.
This is coming up against the background of the high priority the central and state governments are giving 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 of 2014 also proposed the development of 100 smart cities. And 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 the 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 who 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.
"Currently the real estate prices in Hyderabad are the lowest, and the CREDAI Hyderabad Property Show comes just in time, much before the prices start going up as a result of higher priority given to the sector by the government, the RBI and the SEBI. Even the Telangana government has promised to provide a two-bedroom house each 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 added.
CREDAI General Secretary S Ram Reddy remarked, "Hyderabad has a population of about 8 million, and with the ITIR coming up in 50,000 acres, 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 that Hyderabad will double in size, pushing up the demand for housing enormously. The government is planning to have 4 bus and rail terminals at the 4 corners of Hyderabad, and is planning to increase the metro rail network in the city to 200km. In addition, Hyderabad is going to be an incubation hub for entrepreneurship, and will have a Pharma City, a Sports City, a Cinema City, a Manufacturing city, an Education city and a Health City. All these 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 buy a property this festive season." (INN)