Hyderabad real estate market is strong, says Credai

Hyderabad: Real estate developers on Friday said that the Hyderabad real estate market would continue to flourish owing to a series of development initiatives taken by Chief Minister A. Revanth Reddy-led Congress government.

They asserted that the victory of the Telugu Desam in the Andhra Pradesh Assembly elections, and revival of the Amaravati capital plan, would not impact the Hyderabad real estate market.

The Metro Rail expansion, Musi riverfront development, construction of elevated corridor on Hyderabad-Nagpur national highway along with the Hyderabad-Karimnagar Rajiv Highway, Regional Ring Road (RRR) and townships around the city would boost the Hyderabad real estate market, said V. Rajashekhar Reddy, president of Credai Hyderabad, while announcing the schedule of association’s property shows in the city.

The Confederation of Real Estate Developers' Associations of India (Credai) property show will be organised from August 2 to 4 at Hitex, from August 9 to 11 at Shree Conventions Kompally and from August 23 to 25 near Nagole Metro Rail Station.

“We urge Chief Minister A. Revanth Reddy to inaugurate our landmark property shows. He is the face of the Brand Hyderabad and Telangana. Revanth Reddy inaugurating the property shows will debunk all speculations about Hyderabad real estate getting slowed down,” said Rajashekhar Reddy.

Members of Credai also said that they had urged the government to delay the process of revision of the market value of land, commonly known as government rate, and urged the government to give concessions to women on property registration charges.

Apart from materialist factors like affordability, high-quality lifestyle among others, Hyderabad will always be a preferred location for people from any part of India, as people here welcome everyone wholeheartedly, said B. Jagannath Rao, general secretary of Credai-Hyderabad.

"Government data related to revenue from registrations, number of properties registered and the number of building permissions sanctioned show that there is a significant development in Hyderabad,” said a real estate industry expert.

Growth story

Data of seven months of Congress rule from December 2023 to June 2024 and that of the BRS in the preceding May-November 2023 period shows growth in the real estate sector

Category Congress BRS

Registration revenue in 7 months `4,670.52 crore `4,429 crore

Number of registrations 2,18,160 1,93,962

GHMC, HMDA permissions 18,077 17,911

Source: Government data