Telangana Poised for Stupendous growth in the Real Estate Sector

Telangana Poised for Stupendous growth in the Real Estate Sector
Telangana Poised for Stupendous growth in the Real Estate Sector

Hyderabad: 24th November, 2023: The Confederation of Real Estate Developers’ Associations of India (CREDAI) Hyderabad in association with National Real Estate Development Council (NAREDCO), Telangana Builders Federation (TBF) and Telangana Developers Association (TDA) organised The Real Estate Summit 2023 at Hyderabad International Convention Centre (HICC) Novotel. The chief guest Shri K. T. Rama Rao, Hon’ble Minister for Municipal Administration & Urban Development, Information Technology, E&C, Industries & Commerce Govt of Telangana, India, CREDAI senior leadership team including Shri. V. Rajashekar Reddy, President, CREDAI Hyderabad, Shri. B. Jagannath Rao, General Secretary CREDAI HyderabadShri. N Jaideep Reddy, PresidentElect CREDAI Hyderabad along with Shri. Sunil Chandra Reddy, President, NAREDCO, Shri. Vijay Sai Meka, General Secretary, NAREDCO, Shri. C Prabhakar Rao President Telangana Builders Federation, Shri. T. Narasimha Rao, General Secretary, TBF, Shri. G V Rao, President-Telangana Developers Association, Shri Srinivas Goud, General Secretary, TDA in the presence of representatives of IPC’s JLL, CBRE, Cushman & Wakefield along with representatives from CREDAI, NAREDCO, TDA and TBF and prominent developers, stakeholders and industry members were present at the Summit.

The Real Estate Summit 2023 was a platform to understand the emerging trends & policies in the real estate sector across all asset classes. All the prominent real estate bodies organised this Summit in Telangana with the participation of well-known developers from the state. Renowned IPC’s (International Property Consultancies) JLL, CUSHMAN&WAKEFIELD & CBRE conducted sessions highlighting the trends in the real estate sector and initiatives driving the growth in Telangana. JLL shared its report on the overall trends across asset classes in the real estate sector in Hyderabad and Telangana. Cushman & Wakefield shared the insights on the Office Space & its Growth potential in Telangana. CBRE presented its report on the trends in Retail stores & Food Chains in the state. The sessions provided invaluable insights on the real estate sector in the city and avenues for future growth.

The industry players, leaders along with Shri K. T. Rama Rao reviewed the initiatives and progress made by the real estate sector across asset classes and gathered inputs on the way forward to propel the growth for this sector in future.

Speaking at the occasion Mr V. Rajashekar Reddy, PresidentCREDAI Hyderabad said “We are happy and delighted to host the Real Estate Summit 2023. The Real Estate Sector is the second largest contributor to the GDP of the country. The sector contributes significantly to the growth, revenue generation and employment, critical factors to the progress of Telangana State. Hyderabad Real estate has witnessed tremendous growth since the formation of Telangana. This is primarily driven by the overall efforts to establish ‘Brand Hyderabad’ as an attractive city to live and work. During the July-September quarter, Hyderabad has emerged as the frontrunner in India’s office space market, registering a significant surge in leasing and new supply. There is a robust growth witnessed in the residential property absorption and supply. In October 2023 the city witnessed a 25% jump in number of property registrations and a 41% increase in the value of properties registered as compared to October last year. This reflects a robust real estate sector. The city is continuously attracting fresh investments as major MNC’s are setting up their large Global Capability Centres in the city and creating more jobs due to attractive real estate pricing, conducive business environment and availability of talented workforce. This as fuelling the growth, and likely to continue as long as we have stable and industry friendly government.”

Mr Sunil Chandra Reddy, President, NAREDCO added “Telangana’s real estate sector is at an inflection point with the new policies, emerging trends and various initiatives in the sector that are paving the way towards sustainable growth of the industry. The Government has played a pivotal role with the adopted reforms, policy frameworks and the investments in physical infrastructure development. The ‘GRID’ policy and the ongoing expansion of the Hyderabad Metro Rail network and the development of the Outer Ring Road (ORR) are set to open up new growth corridors, making the city more accessible and attractive for potential homebuyers.  We hope the continuity of the reforms and proactive, pro-development trends to continue in the state and see the real estate sector blossom.”

Speaking on occasion Mr G V Rao, President-Telangana Developers Association said “The Real Estate sector is continuously growing in the city supported by the rapid infrastructure development, availability of talented workforce, pleasant weather and focused efforts to established Telangana as a destination for investments. Since the formation of the state, the state pioneered initiatives like TS-iPass and TS-bPass facilitating speedy documentation and approval systems, further accelerating the growth by establishing Telangana as an industry friendly state. We are hopeful that the state will continue to grow and become the best residential, commercial & co-working spaces markets for buyers across all segments, as projected in the presentations by the IPC’s at the Real Estate Summit.”

Mr. C Prabhakar Rao, President-Telangana Builders Federation; co-convener added “Telangana is traditionally an end-user driven market and is witnessing a steady growth both in terms of absorption and value.  Since the formation of the state, the Government has adopted a structured approach to make the city safe by modernising the police force, development of an ultra-modern Police Command and Control room, CCTV surveillance, SHE Teams and Hawk-Eye App for protection of women and girls – making Hyderabad the safest city. The planned development of infrastructure, safety and surveillance of the city along with the low real estate prices, make Hyderabad a favourite destination for investment. These inherent strengths of the city make it attractive destination to work & live and will propel the real estate sector to rapid growth.”