Our Hyderabad is the new Manhattan!  

(King Johnson Koyyada): Hyderabad is developing on par with New York, felt actor NagaShourya who inaugurated the 11th edition of TREDA Property Show at Hitex on October 1. He termed Hyderabad as best place for investment in real estate sector. Speaking on the occasion, NagaShourya said that many people think that he was wasting the money that he earned in the films, as he does not know much about investments. However, he always hands over his income to his mother who buys properties in and around Hyderabad. “My mother had bought properties in some of the projects being showcased at the TREDA Property Show,” he said.

The actor recalled how he did not believe when news came out that IKEA was coming to Hyderabad three years ago. He wondered why IKEA would set up its showroom when there are cities like Delhi, Mumbai and even Bengaluru. “But I was shocked when the news has turned into a reality. It was understandable that IKEA had come here considering the New York-style development in Hyderabad. He said he had sold 23 acres of land to his friend before IKEA’s arrival and felt bad later as land prices increased after IKEA’s arrival. He advised women to visit the property shows as they were capable of taking the right decisions about the house including those meant to be investments.

Reverse tourism begins!

“Looking at the buildings being constructed in Hyderabad, our city is developing on par with Manhattan, Dubai and Singapore,” said TREDA president Chalapathi Rao. He was confident that Hyderabad is likely to witness reverse tourism and hoped that visitors from Dubai and Singapore would come to Hyderabad. “Looking at the buildings being constructed here, their elevations and the facilities included in them, our developers are undertaking constructions with international standards,” he said. He pointed out that duplex flats with an area of 17,000 sq.ft were also being built in the city.

Chalapathi Rao wanted all the construction companies to work together and ensure that Hyderabad was no less than any foreign city as the city aspires to grow further. However, he cautioned that the mad rise in land prices should be brought under control. Instead of auctioning lands to international companies, he suggested that the government should provide the lands on a development basis which would in turn ensure that the office space will be available at an affordable price.

Suggesting for developing at least 50 feet roads in every district headquarters, the TREDA President stressed the need to resolve the pending issues under the Dharani portal. He said though 95 per cent of the land records on the Dharani portal are dispute-free, the remaining five per cent lands were posing a major challenge for the realty developers especially those taking up large-scale projects. He stated that these builders were unable to find large extents of dispute-free land at one place. He felt that it was not advisable to place even the lands with minor issues, under the prohibited list. He also urged the government to ensure transparency by making all relevant Government Orders, Memos and also Master Plans roads available for the realtors.

“Transparency in giving permissions is also lacking. We are unable to understand how some builders are getting relevant permissions and others are being denied, in the same locations. The market has improved to a large extent as the turmoil in the Hyderabad’s realty sector has come to an end after Covid-19.

Attracting Kitex is a masterstroke

TREDA Secretary General Sunil Chandra Reddy said that Hyderabad was growing significantly due to the presence of a supportive government with a positive outlook. He lauded Industries Minister KT Rama Rao’s efforts to attract Kitex company to Hyderabad, was going viral on the web. He said KTR had persuaded Kitex to invest in Hyderabad within one week after the company decided to exit from Kerala. He said it was a great achievement for the State government to get the company to agree to invest around Rs 2,400 crore. He hoped that Telangana would attract more investment in the coming days. He also wished Naga Shourya that all his upcoming movies succeed at the box office.

The event was attended by Meka Vijay Sai, Sridhar Reddy, T Dasharath Reddy, Ravinder Rao, CREDAI-Hyderabad President Ramakrishna Rao, Secretary V Rajasekhar Reddy, CREDAI-Telangana President Muralikrishna Reddy, Secretary Ch Ramachandra Reddy, NAREDCO West Zone Builders Association General Secretary Prem Kumar, Ramky Estates managing director Nandakishore and others.