HYDERABAD: The Confederation of Real Estate Developers’ Associations of India (Credai) termed North Hyderabad as the emerging growth corridor of the city and expressed its desire for enhanced realty growth in the region during its two-day exhibition titled ‘Hyderabad Property Show – North’ here on Saturday.
The 12th edition of Credai is the first that is focused on north Hyderabad and showcases projects in the area.
They include apartment buildings, villas, plots and commercial spaces in the neighbourhoods of Balanagar, Kompally, Shamirpet, Medchal, Alwal and Patancheru.
It was inaugurated by labour minister Ch. Malla Reddy. Credai-Hyderbaad president P. Ramakrishna Rao said that the city's housing market remained bullish and the buying sentiment was strong enough to withstand the marginal fluctuations in lending rates, making it the most promising real estate market in India.
Speaking on the advantages of north Hyderabad, he said, “Although west Hyderabad continues to be the epicenter of growth, the northern part is also seeing significant traction due to IT/ITeS, logistics, warehousing cluster, manufacturing clusters, pharma and healthcare clusters.
General Secretary of Hyderabad Credai V. Rajashekar Reddy said, “Only the Western part of Hyderabad had witnessed considerable growth, investments, and development for a long time. The proactive governance in the state realised the perils of lopsided development and the pressure it puts on the infrastructure. It adopted the GRID (Growth in Dispersion) policy to ensure growth all across the city.”
K.P. Vivekananda, MLA, Quthbullapur and Credai’s senior leadership team were present on the occasion.
