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PROPERTIES IN HYDERABAD the members of Credai Hyderabad who have been newly elected expressed as far as growth in the realty sector is concerned, in the years to come, it will be sustained by competitively priced real estate projects. According to P Ramakrishna Rao, President, Credai Hyderabad, the real estate sector of Telengana in general and specifically in Hyderabad is on the verge of witnessing enormous growth. The new Credai team is sanguine about the prompt implementation of plans by the government with regard to single window approval for realty projects. This in turn is expected to pave the way for growth.
The Confederation of Real Estate Developers’ Association of India (Credai), Hyderabad, will be led by P. Rama Krishna Rao. He has been elected as the President, while V. Rajashekar Reddy will be the General Secretary. The new team aspires to focus on the absolute satisfaction of consumers and to work on further development of skills amongst the members, so as to enhance efficiency. Besides, the target is to adhere to ethical standards of operation in the industry. When it comes to sought-after locations in the city, the Outer Ring Road has gained great prominence in recent times, thanks to its multi-dimensional connectivity to various parts of the city. The Gachibowli financial district and hi-tech corridor have emerged to be major commercial centres, being home to several IT companies who are have not only established their presence here but also looking for expansion. This is further complemented by the emergence of new office spaces and retail outlets.
Rao further added that office space leasing in Hyderabad, for the first time, surpassed that of Bangalore, and has thus manifested potential for greater growth. However this can be accomplished only if the government undertakes infrastructural initiatives. It is also interesting to note that the residential market in Hyderabad has recorded a growth of 30%. The last few years also witnessed a sharp decline in unsold residential inventory in the city. V. Rajashekar Reddy, General Secretary of Credai Hyderabad, affirmed that the new team will emphasize on the identification of growth areas and will work in close coordination with the government to procure the policy stimulus. Ever since the Telengana RERA has come into effect, the sector has experienced polarization, and unorganized operators are gradually being eliminated.
