Hyderabad realty will witness boom for next 10-15 years

Hyderabad: Amid the fears of real estate bubble could burst due to more projects coming up in western part of Hyderabad, Telangana Minister for IT, Industries and MA&UD KT Rama Rao assured that the housing and construction industry will continue to witness the same momentum for the next 10 to 15 years. He said this after inaugurating the 11th edition of Credai Hyderabad Property Show at Hitex on Friday.

He said, "There are plenty of opportunities in Hyderabad as many international companies have been setting up their units here. Apart from creating employment, these investments will spur more demand for housing. The builders and developers should explore other areas of the city instead of launching all new projects in the west zone."

"Amazon and Microsoft were setting up their data centres in Chandanvelli and other areas. There is Genome Valley at Shamirpet. Sultanpur Industrial Park was full and more land is being acquired in the neighbouring areas. Similarly, Pharma City would be launched shortly," KTR said, suggesting the builders and developers to look beyond west zone and explore the opportunities in these areas.

The minister informed that the State government is planning to come with a new master plan for the city in coming 18 months, and a master plan for all the 141 municipalities and corporations by the end of this financial year. He also ensured 100 per cent treatment of the sewage generated in the city by the end of December.

He suggested Credai Hyderabad and other real estate bodies to partner with the State government in setting up a specialised institute to train skilled workforce in Telangana so that no workers from this region shall go to other countries or States in search of jobs. The institute shall not only offer training to the local youth, but also provide employment opportunities, he added.

On the occasion of Credai Hyderabad Property Show 2022, Credai Hyderabad President P Ramakrishna Rao said, "We are facing extremely challenging times with the Covid-19 and the war in Ukraine resulting in the unprecedented increase in the cost of raw materials. However, in spite of these challenges, Hyderabad has witnessed consistent demand for real estate across categories."

The momentum is expected to continue in 2022-23 on the back of strong demand, and housing sales will continue to grow, as the proactive government in the State is ensuring a regular flow of investments to the city and a robust job creation and office space absorption. People are looking to invest in property as a residence to live or as an investment, as property prices are appreciating and offer better returns.

V Rajashekar Reddy, General Secretary, Credai Hyderabad, said: "We are privileged to be in Hyderabad as the city is a preferred global destination for business, particularly for large business establishments for MNCs and a rapidly growing local entrepreneurship ecosystem driving the growth and job creation in the city. The investors feel the city is the safest option in many ways."

Over 15,000 properties are on display at the three-day property show, which is aimed at bringing together all the people from diverse facets of the construction industry, including world-class developers, material vendors and manufacturers, experts, and financial establishments from across Hyderabad to present the progressions in the real estate sector.