Revamping Policy and Infrastructure to Enhance Realty Affordability in Hyderabad

Experts call for policy shifts and infrastructure development to boost realty affordability in Hyderabad, emphasizing the need for multi-use land policy and improved connectivity.

Real EstateHyderabadAffordabilityInfrastructure DevelopmentPolicy ShiftsReal Estate MumbaiJun 16, 2024

Revamping Policy and Infrastructure to Enhance Realty Affordability in Hyderabad
Real Estate Mumbai:The Indian real estate market, particularly in Hyderabad, is grappling with the issue of affordability. At the Times Home Hunt Property Expo 2024, experts from the Confederation of Real Estate Developers' Associations of India (CREDAI), National Real Estate Development Council (NAREDCO), and property developers converged to discuss the growth trajectory of the sector. Shekhar Reddy, national vice chairman of CII India Green Building Council, underscored the need for policy decisions to address the rising land prices in the open market. He advocated for the adoption of a multi-use land policy, which could stabilize prices and boost affordability. Rajasekhar Reddy, president of CREDAI, emphasized the importance of promoting housing for all by identifying and supporting good locations. He expressed concerns about the western corridor-centric development, which might not be suitable for common people living in other parts of the city. Bhaskar Rao, chief general manager of Union Bank of India, highlighted the strength of Hyderabad's real estate sector, which is a top contributor to the bank's balance sheets. Mukul Agarwal, director of Koncept Ambience, stressed the importance of infrastructure development, such as the completion of the regional ring road and new township policies, to ensure continued growth for developers. Sunil Chandra Reddy, president of NAREDCO, pointed out the necessity for improved infrastructure and connectivity, suggesting projects like a skyway along the Musi and an elevated corridor from Kukatpally to the city. With the demand for ready-to-move-in (RTMI) homes surged in Mumbai, with ANAROCK reporting an 85% increase in 2023, the focus is now on Hyderabad to follow suit.

Frequently Asked Questions

What is the main concern in Hyderabad's real estate market?

The main concern is the issue of affordability due to rising land prices.

What policy decision is recommended to address the issue?

The adoption of a multi-use land policy is recommended to stabilize prices.

What infrastructure development is needed to boost realty growth?

The completion of the regional ring road, new township policies, and improved connectivity are necessary.

How has the demand for RTMI homes changed in Mumbai?

The demand for RTMI homes in Mumbai has surged, with ANAROCK reporting an 85% increase in 2023.

What is the expected impact of policy shifts and infrastructure development on Hyderabad's real estate market?

It is expected to boost realty affordability and growth in the sector.

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