The State government is eyeing support of the Confederation of Real Estate Developers Association of India (CREDAI)-Hyderabad chapter for taking up affordable housing as means of providing social security to the citizens, said TRS MP K. Kavitha on Friday.
Addressing a gathering of builders and stakeholders in the real estate industry after inaugurating the three-day ‘Hyderabad Property Show’ at Hitex, Madhapur, Ms. Kavitha requested them to create greater awareness on insurance facilities available to migrant labourers and put in more effort for greening projects as more trees will only help reduce day temperatures in the twin cities.
Growth of realty
Real estate industry is among the largest employment generators and deserves to be accorded industry status, she said. Hyderabad growth in this sector has been high when compared to other cities in the country and the government, too, has been taking steps for improving infrastructure with the proposed regional ring road. This is likely to propel growth of the sector further.
While the government has taken several initiatives to support the growth of the real estate industry, Ms. Kavitha called for transparency and quality construction projects from the developers.
The seventh edition of the property show will run till February 17 and more than 150 developers are showcasing 15,000 properties, including integrated townships, apartments, gated communities, villas, green buildings, etc.
Attractive schemes
Several financial institutions have also put up stalls offering attractive finance schemes. “Citizens should make most of the present price levels and purchased their desired property before the hikes as the city is poised for more growth with the government focused on taking up several infrastructure projects like expressways, metro rail extension, pharma city, medical devices parks and so on,” said president of CREDAI Hyderabad chapter S. Ram Reddy.
“The sector is booming and there has been an increase of 30% in sale of residential units while unsold inventory were reduced by 29%. The city had a 8% price hike in the first half of last year,” said general secretary P. Rama Krishna Rao.