Janapriya Engineers CMD Ravinder Reddy urged the newly formed government in the state to promote affordable houses. He said that till now, all the governments have supported it to the extent of their scope, and if it continues like this, it will help the people here. He exclusively spoke to Real Estate Guru on real estate issues in the state. Excerpts from the interview:
Every government has supported the real estate sector. All the governments, like the TDP, Congress, and BRS, have promoted the real estate sector and supported it according to the circumstances and scope of that time. Real estate is not a short-term investment; it is a long-term affair. It is enough to continue as it has been. However, my appeal to the government is that they should focus on affordable housing. These should be encouraged. In particular, they should come up with a scheme to fulfil the lower-middle-class people’s dream of owning their own home. It gives them a lot of boosts. It is not correct to say that there have been problems in real estate in the last 10 years. The only problem we have is that 10 percent of the project area is being mortgaged. We are facing problems with its release. Even after the arrival of RERA, it was not taken up. There is no problem for the residential sector in Hyderabad. The price of real estate will not decrease. However, people are waiting for two to three months after the new government forms. But there is no need to worry that something will happen based on this. Everything will go smoothly, he said.
