Hyderabad, December 17, 2015: Real Estate market, including both residential and commercial sectors, is expected to touch US$ 180 billion by 2020, almost double the figure of US$ 93.8 billion for 2014, according to industry estimates. The industry is an important indicator of development as it creates investment opportunities across ancillary sectors as well. ETEdge Realty Convention in Hyderabad yesterday reinforced the power of the fourth-largest sector in the country, in terms of FDI inflow.
Eminent personalities present during the Summit included Srinivas Murthy, G.-Principal Architect -SMG Design Inc, Gururaj Manepalli, Principal Architect – RAGA (Chairman of Indian Institute of Architects), M. Nanda Kishore, Executive Director- Ramky Estates and Farms Ltd., Rajesh Pagadala, Managing Director – Aditya Construction,Pradeep Kumar, CEO – Sri Krishna Group, S Ram Reddy, Managing Director (President CREDAI) – SMR Holdings, Yeshwant Ramamurthy, Principal Architect – Studio One Architects, Suresh Chukkapalli, Chairman- Phoenix Group, M. P. Agarwal, Director – Universal Realtors Pvt. Ltd., Sona Chatwani, Chairman – IIID, Hyderabad Chapter and Venu Vinod, Managing Director – Cybercity Builders and Developers.
Approval of 100 Smart City Projects and increase in FDI limits for townships & settlements, development projects and Real Estate projects within the Special Economic Zone (SEZ) to 100 percent are being seen as positive signs. Whether the future of built environment will be High, Smart or Mixed was a matter of discussion. Yeshwant Ramamurthy (Principal Architect, Studio One Architects) said, “The challenge is to walk the tightrope of delivering quality in schedule to the investors. Professional construction management will hasten and add value to the execution of the project. Government regulations need to be streamlined to ensure steady supply chains of essential building materials.”
Furthermore, the focus on technologies, stress on green features and excellent design options have brought in a number of positive changes. Stressing on customer delight, Suresh Chukkapalli, Chairman- Phoenix Group said, “The Indian real estate industry is evolving at a rapid pace and we are now able to build world class projects in both the commercial and residential space. The industry has a bright future and it will help India in the development of smart and green cities.”
The Economic Times Realty Convention 2015 is a four city power-packed summit that would deal with all things related to Real Estate and Ancillary services. During all the Conventions, opinion leaders would deliberate on the benefits of cutting-edge technologies, out-of-the-box Real Estate solutions and the issues that need attention.
Corporate Comm India(CCI Newswire)
