Hyderabad on the Verge of a Major Real Estate Boom
Telangana Civil Supplies and Irrigation minister N Uttam Kumar Reddy predicts a significant boom in Hyderabad's real estate and construction industry
Hyderabad Real EstateTelangana GovernmentCredaiInfrastructure DevelopmentIt IndustryReal EstateAug 20, 2024
Speaking at the state conference of Confederation of Real Estate Developers' Associations of India (CREDAI) Telangana, Uttam Kumar Reddy expressed his confidence that Hyderabad was on the verge of a major real estate boom. He noted the palpable sense of excitement surrounding the city's imminent growth.
The minister credited the earlier Congress government for laying the groundwork with world-class infrastructure projects such as the Rajiv Gandhi International Airport, the 162-km-long Nehru Outer Ring Road, PVNR Expressway, Hyderabad Metro Rail, and the supply of drinking water from the Krishna and Godavari rivers.
The present Congress government, under chief minister Revanth Reddy, has announced several landmark development projects for Hyderabad, including the Future City at Mucherla, the Skill Development University, the expansion of the Metro Rail, and the proposed Musi Riverfront Development project. These projects, he said, had created an atmosphere conducive to growth, not only in Hyderabad but also in tier-2 and tier-3 cities across Telangana.
Uttam Kumar Reddy emphasized that with the efforts of chief minister Revanth Reddy and Industries minister Sridhar Babu, there was likely to be a surge in investment in the IT, software, and manufacturing sectors across Telangana.
Frequently Asked Questions
What is the predicted growth in Hyderabad's real estate and construction industry?
A significant boom is predicted in Hyderabad's real estate and construction industry, driven by a series of innovative and ambitious projects announced by the state government.
What are some of the landmark development projects announced by the Telangana government?
The Future City at Mucherla, the Skill Development University, the expansion of the Metro Rail, and the proposed Musi Riverfront Development project are some of the landmark development projects announced by the Telangana government.
What is the role of CREDAI in promoting the real estate industry in Telangana?
CREDAI is the apex body for private real estate developers in India and represents over 12,000 developers through 23 state and 163 city chapters across the country.
What is the focus of the Telangana government's initiatives?
The Telangana government's initiatives are focused on promoting entrepreneurship, innovation, and job creation, with a focus on inclusive growth.
What is the significance of the Regional Ring Road project in Telangana?
The Regional Ring Road project is a prestigious project that will promote connectivity and growth in the state, and is a key initiative of the Telangana government.
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