Credai showcases booming north Hyderabad real estate
Credai Hyderabad’s second property show, Credaibility, is ongoing till August 11 at Shree Convention Centre, Kompally
V Rajashekar Reddy, president, Credai Hyderabad inaugurating the second Credaibility property show in North Hyderabad on Friday
♦ North Hyd, with its IT tower, Genome Valley, emerging as a real estate hotspot
♦ Credai aims to elevate North Hyd to the level of West Hyd with a focus on infra development
♦ Property show offers a platform for homebuyers to housing options in North Hyd
Hyderabad: The Hyderabad chapter of the Confederation of Real Estate Developers’ Associations of India (Credai), inaugurated its second Credaibility-themed property show on Friday at the Shree Convention Centre in Kompally.
The property show, which runs until August 11, 2024, features apartment complexes, villas, plots, and commercial spaces in areas such as Balanagar, Kompally, Shamirpet, Medchal, Alwal, Patancheru, and more.
Citing the Hyderabad Housing report released by Credai Hyderabad in association with CRE Matrix, V Rajashekar Reddy, president, Credai Hyderabad, said: “Hyderabad’s real estate industry is robust and expanding rapidly, with an annual growth rate (CAGR) of 29 per cent in the total value of unit sales from the first half of Calendar Year 2019 to H1, CY24. The city has seen a 257 per cent increase in the value of units sold in H1, CY24 compared to H1, CY19, and a 148 per cent growth in housing unit sales, with 38,643 units sold in H1, CY24 compared to H1, CY19.” Highlighting the growth in North Hyderabad, Reddy said that it is known for its e-commerce warehouses, medical devices park and Genome Valley, a hub for life sciences and medical research. “To showcase this region, that has a range of real estate projects, we are hosting a property show here,” he added.
To elevate North Hyderabad on lines of West, B Jagannath Rao, Secretary, Credai Hyderabad, said that the tallest IT Tower at Kandlakoya, capable of hosting 100 companies and employing 50,000 people, is being built. This region is house to more than 200 companies and 15,000 employees, including global giants like Novartis and GlaxoSmithKline. “The Hyderabad-Nagpur Industrial Corridor will further accelerate growth, driving up demand for housing,” Rao said.
