Hyd realty will continue to clock robust growth: Credai
Realty body to host 3-day Hyd property show from Mar 8
image for illustrative purpose
Credai Show 2024
l The upcoming event will witness participation of 66 exhibits
l Wide range of properties from Rs 30 lakh to Rs 12 cr to be displayed
l Significant rise in property transactions in Hyd (+25% Nov 2023 vs 2022)
l Metro Phase 2 connecting airport to fuel further demand
l Over 1.3 lakh residential units planned for launch in next 3 yrs
l Key areas: Gachibowli, Kondapur,Nallagandla, Kokapet, Puppalaguda, Narsingi, Tellapur, Kompally, Shamirpet
Hyderabad: Credai (Confederation of Real Estate Developers’ Association of India), an apex body of private real estate developers on Wednesday announced its 13th edition of Hyderabad property show at Hitex Exhibition Centre in the city, from March 8 to 10, 2024. The upcoming event will witness participation of 66 exhibits, including developers and financial institutions. Residential properties, commercial spaces, plotsand villas in a price range of Rs 30 lakh to Rs 12 crore will be on display. The theme of this year’s edition is, ‘Opportunity to grab the best deals and properties.’ On these lines, the developers announced that buyers will stand a chance to register a property at a discounted price on spot bookings. Credai will also be setting up a children’s play area besides holding various competitions for the visitors.
Speaking about the growth of residential market in Hyderabad, Credai Hyderabad president V Rajashekhar Reddy said, “Despite rising property prices, the city continues to attract homebuyers as it is evident in the significant rise in property transactions reported in November 2023. There was a 25 per cent surge in property deals during November 2023 compared to the previous year. 6,268 property deals were closed during this period, contributing to substantial stamp duty revenue. The total value of properties reached Rs 3.741 crore, showing 29 per cent growth in value compared to the same period in the previous year.”
On the outlook of real estate market for the current year, Reddy said, “To improve the infrastructure, the government has approved the second phase of the metro rail to connect the airport and cater to a larger section of the city’s population. They are studying various global models to develop ‘The Musi Corridor’ into a destination for tourism and business. These initiatives give us the confidence that the robust growth in real estate sector is likely to continue in Hyderabad. The decision by the Reserve Bank of India to maintain the repo rate is likely to provide additional support to the sector in 2024.”
B Jagannath Rao, General Secretary, Credai Hyderabad informed that over 1.30 lakh residential units are likely to be launched over the next three years. The demand from multinational company employees hasled to growth in the residential marketssuch as in Gachibowli, Kondapur, Nallagandla, Kokapet, Puppalaguda, Narsingi, Tellapur, Kompally, and Shamirpet.
