CREDAI Hyderabad inaugurates the 10th Edition of its Property Show

The show presents a unique opportunity to select your dream haven at the most suitable price

New Delhi, August 19, 2021: CREDAI, the Confederation of Real Estate Developers’ Associations of India, the country’s apex body of private real estate developers, has organized the 10^th Edition of the Hyderabad Property Show from 13th August to 15th August 2021. The property show was inaugurated by Shri. Vemula Prashanth Reddy, Minister of State for Roads, Buildings, Legislative Affairs, and Housing Department, Govt of Telangana in the presence of the CREDAI senior leadership team comprising of Shri P. Rama Krishna Rao, President, Shri. V. Rajashekar Reddy, General Secretary, Vice Presidents Shri G Anand Reddy, Shri K Rajeshwar,  Shri N Jaideep Reddy, Shri B Jagannath Rao Treasurer Shri Aditya Gowra, and Joint Secretaries Shri Shivraj Thakur and Shri K. Rambabu, along with other EC members, member Developers and representatives of suppliers and financial institutions.

CREDAI Hyderabad Property Show 2021, a three-day event will be held at Hitex, Hyderabad. The show is aimed towards 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. The event will showcase the best possible choice of residences and workspaces, with over 15,000 properties on display that will suit all the necessities of the customers.

To comply with the COVID-19 safety measures, the number of stalls has been reduced from 150 to 100, with wider corridors to maintain sufficient social distancing. Temperature checks at the entrance and sanitization stations will be made available to ensure seamless hygiene.

Commenting on the occasion, Mr. P. Ramakrishna Rao, President, CREDAI Hyderabad, said, “Navigating this pandemic has been challenging for all the individuals and the businesses. In these trying times, Government support has played a vital role in helping industry tide over the situation. The innovative policies of the Telangana Government like TS-iPASS, TS-bPASS, etc. have played a significant role in ensuring ease of doing business in the state. We have worked closely with the Government of Telangana, who has graciously accepted our request to allow extension of all approvals and permissions by 1 year because of the pandemic, without any additional fee. To further help the industry, the Government has permitted the payment of permit fees, betterment, development, and capitalization charges in installments. We have also worked closely with the government for permission to allow podium parking, this will have a significant impact in reducing the cost of construction and reduce the risk of flooding, and speeding up the construction. Besides, we would also like to highlight that a huge corpus of funds for labor charges is with the government, we request that the same should be utilized for setting up healthcare and other facilities for the site labor. We would also request the government to schedule a quarterly review meeting with all stakeholders for TS-RERA, to review the progress and resolve the issues.”

He further added, “The growing IT/ITeS sector, increased investments in warehousing, aviation, healthcare, and other sectors in the state, there will be an increase in jobs, resulting in the subsequent increase in the demand for commercial, residential, and retail real estate. In spite, of the pandemic, Hyderabad has shown great resilience, and the demand for real estate has been growing steadily.  As people get vaccinated and companies restart work from office or Hybrid work schedules, the demand for real estate will gain further momentum. Overall real estate growth in the city during the first half of 2021 has been well above the national average considering all asset classes. The city led institutional investments during Q1 2021 (January-March) pan-India accounting for a major share of total investments in the sector. We have very low inventory levels, trigging a large number of new project launches this year, indicating a lot of vibrancy in demand. To facilitate consumers and help them capitalise on the various investment opportunities, we will be organizing the CREDAI Hyderabad Property Show 2021 from 13th to 15th August at Hitex, Madhapur. Through this initiative, we hope to amalgamate the most attractive, genuine properties backed by lucrative financing options, under a single umbrella. We urge the people, to make the most of this property show and select the property of your choice before the prices go up.”

Adding to this Shri V. Rajashekar Reddy, General Secretary, CREDAI Hyderabad, said, “Due to the work from home trend influenced by the pandemic, the Hyderabad residential market for larger homes has witnessed abundant growth. According to a report by Knight Frank India, new home sales in Hyderabad witnessed a significant 150% growth year-on-year (YoY), despite the pandemic. Hyderabad remains to be a desired location for businesses and will continue to thrive in the real estate industry because of its ever-growing and rapid entrepreneurial ecosystem, proactive governance, the pioneering process for approvals like TS-iPASS and TS-bPASS, ensuring ease of doing business and ensuring inflow of investments across the sectors. Besides the focus on IT, ITeS, in FY21, the Telangana State Industrial Infrastructure Corporation (TSIIC) developed 10 new industrial parks and allotted 810 acres of land to 453 industries with an expected investment of Rs. 6,023 Crore. The 10-year Electric Vehicle (EV) policy rolled out by the state is aimed to attract US$ 4 billion investments to make the state a hub for electric vehicles and energy storage systems, and to create employment for 120,000 people. In FY21, there were 311 investment proposals in the life sciences sector worth Rs. 6,734.56 crore (US$ 919.43 million). These investments and the subsequent job creation will act as catalysts for the demand for commercial and residential real estate in the city. Presently the price for residential and rental real estate is lowest, amongst cities with comparable infrastructure, however, this will not stay for very long. It is advised that people wanting to purchase a home should decide immediately and make the most of the wide range of projects from reputed builders at the 10^th CREDAI Hyderabad property show – the most credible property expo. Based on the fundamentals of the city and the plans for future development, the property prices could increase by as much as 30-40% in the next few years.”

He further added, “Despite the third wave of the pandemic lurking around, we have taken measures to ensure maximum safety of everyone involved in the event. The CREDAI Hyderabad Property Show will abide by all the social distancing and hygienic measures as per COVID protocols. We have stalls with larger and more open spaces, adequate distancing, sanitization at all places, and guidelines at every step, we assure all the developers and visitors that their safety is the utmost priority. Masks will be compulsory for all the attendees during the event. With all these precautions in place, we believe this property show will be a raging success and will direct people towards the property of their dreams.”

Corporate Comm India (CCI Newswire)