Hyderabad poised for real estate boom, predicts Min Uttam Kumar

Hyderabad: Civil Supplies & Irrigation Minister Uttam Kumar Reddy predicted a significant boom in Hyderabad's real estate and construction industry, driven by a series of innovative and ambitious projects announced by Chief Minister A Revanth Reddy, Deputy Chief Minister Bhatti Vikramarka, and IT & Industries Minister D Sridhar Babu.

Speaking at the State conference of Confederation of Real Estate Developers' Associations of India (Credai) Telangana at the Hyderabad International Convention Centre (HICC) on Tuesday, which had the theme 'Telangana Going Global,' Uttam Kumar Reddy expressed his confidence that Hyderabad was on the verge of witnessing a major real estate boom. He noted the palpable sense of excitement surrounding the city's imminent growth. Uttam Kumar Reddy 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.

He highlighted that the present Congress government, under CM Revanth Reddy, had announced several landmark development projects for the city, 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, which were likely to see substantial development.

Uttam Kumar Reddy emphasised 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. "Hyderabad's real estate is set to boom," he asserted.

Uttam Kumar Reddy assured the Credai members that the Congress government was committed to taking the State to the next level. "In all your business and building activities, our government is with you," he said. He emphasised the importance of rapid urbanisation in the State, which had reached nearly 45 per cent, and highlighted the crucial role of the real estate and construction industry in the state's development.

Bhongir MLA Anil, IGBC National Vice Chairman C Sekhar Reddy, and other dignitaries were present.