Credai’s 3-Day Property Expo Kicks Off In Visakhapatnam

Visakhapatnam: The much-anticipated three-day Property Expo 2024 organised by Visakhapatnam Chapter of the Confederation of Real Estate Developers' Associations of India (Credai) commenced on Friday at Gadiraju Palace and Convention Centre here with an encouraging response from the prospective buyers.

"As soon as the expo commenced, we received many enquiries from the prospective buyers with regard to location and details of various housing properties and layouts, interior decorators, painting and banking options. All the 77 stalls were booked in advance by the property developers as well as others who are required to furnish the flats/villas and gated communities," KSRK Raju (Sai), Chairman of Credai-Vizag, told Bizz Buzz. Arrangements have been made for lucky dip prizes periodically for the visitors. “This Property Expo reflects our collective vision of fostering growth and innovation in the real estate sector. We thank the government for creating a supportive environment that accelerates business operations,” said Sai.

The event attracted significant participation from real estate developers, financial institutions, and service providers, making it a one-stop destination for property buyers and industry stakeholders alike. The Property Expo 2024 is poised to welcome visitors over the next two days, offering insights into the latest trends and opportunities in the real estate market.

At the inauguration, Jana Sena MLA (Visakha South) Ch Vamsi Krishna Yadav highlighted the region’s bright future for the real estate sector. “The upcoming Bhogapuram International Airport and enhanced road connectivity are the game changers. Additionally, the introduction of a single-window system for building approvals from December 31 will ease the burden for builders, creating an investor-friendly environment,” he remarked.

BJP MLA (Visakha North) N Vishnu Kumar Raju addressed the challenges faced by builders in recent years, emphasising his commitment to addressing industry concerns. “The real estate sector lacked robust government support in the past. We assure the builder community that their issues will now be addressed promptly and efficiently,” he said. He also lauded the central government for approving seven lakh houses under the Pradhan Mantri Awas Yojana (PMAY), calling it “a transformative move for Andhra Pradesh.”

Visakha East MLA and TDP leader Velagaudi Ramakrishna Babu acknowledged the struggles of small builders, particularly concerning Transfer of Development Rights (TDR) bonds. “We are exploring practical solutions to ensure ease of doing business for small developers,” he shared, while extending gratitude to exhibitors showcasing their innovative products and services.

On the sidelines of the expo, prestigious KSR Subba Raju Memorial Award was presented to the top three students of the diploma in civil engineering program from government Polytechnic College, Visakhapatnam. This recognition underscores Credai’s commitment to nurturing young talent in the field.

Credai Visakhapatnam Chapter office-bearers including Chairman Sai, president V Sharmender, honorary secretary V Sreenu, and State general secretary Bayana Srinivas Rao, expressed their gratitude to the government for its proactive policies. Bheemili MLA and TDP leader Ganta Srinivasa Rao also visited the expo for sometimes and inaugurated

a few stalls.