Real estate growing in Hyderabad, districts, say Credai Telangana new office bearers

Hyderabad: Telangana state is on a growth path since its formation and growth is not restricted to just Hyderabad but is also rapidly percolating to the districts, said D. Murali Krishna Reddy, newly elected chairman of Credai Telangana. “The real estate sector is a key driver to this growth. The sector generates employment throughout the year,” he said.

Addressing a press conference here, he said that a master plan clearly marking the approach roads and gram panchayat roads is needed for sustained development. The Government should take the assistance of Credai representatives to prepare a comprehensive master plan. Permissions should be given to the new layouts based on the master plan with appropriate development charges, he said.

“The real estate sector has seen a robust demand in Hyderabad and other districts due to the proactive governance and focus on infrastructure development. The TS RERA Committee should act to curb pre-launch sales. Separate committees should be set up for quick redressals of issues faced by the developers. A skill development centre in Hyderabad and three in other locations will be set up to help members understand new technologies and train their staff to use it,” said E. Premsagar Reddy, president.

“The real estate sector will contribute 13 per cent to the country’s GDP by 2025. The real estate sector has been witnessing consistent growth. The business sentiment in Telangana state is positive and the government is setting up industrial corridors leading to districts to ensure a balanced growth. For the current year 2023-24, till now 4.23 lakh documents were registered generating revenue of Rs 3,634 crore,” said K. Indrasena Reddy, president-elect, Credai Telangana.

“Telangana state is now attracting investments in textiles, auto-ancillaries, pharma and healthcare, IT, ITeS, aviation, food processing and others,” said G Ajay Kumar, secretary