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.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora