REGNews interview with Vasavi Group CMD Yerram Vijay Kumar
Hyderabad, a global city
Competition with global cities only
Realty needs push
(King Johnson Koyyada, 9030034591)
If the population of Hyderabad is around 1.25 crore, then the population of Amaravati will be 20 lakh. Moreover, Hyderabad did not develop overnight. It took 50 years. It has taken 30 years for the development of the IT industry. Hyderabad became a great city only when all the governments worked together. It is known as a global city.
Therefore, even if Amaravati is made the capital of AP, there is no possibility of an adverse effect on Hyderabad real estate, said Yerram Vijay Kumar, CMD of Vasavi Group. He told Real Estate Guru that there is a need for the two states to develop together. He said AP CM Chandrababu Naidu has the ability to develop AP along with Amaravati. Amaravati will be provided with the necessary support. More details in this article…
As soon as it was known that Amaravati would be the capital, some investors went there. It is said that people buy plots there with the love of having a house in their own motherland, whether it is because of their pride in their hometown. There is no need to blame anyone for that. However, there will be no loss to Hyderabad due to it. Investments in the real estate sector can be made anywhere.
Most of those who stay here are invested in cities like Mumbai, Chennai, and Delhi. They will sell when they make profits. Similarly, some people can invest in Amaravati as well. Otherwise, it is not correct that it will have an adverse effect on the Hyderabad real estate market. This city did not develop overnight. The IT sector has not grown in five or ten years. This is about 50 years of work. Hyderabad became a metropolitan city—the top city in the world—only if all the political parties worked together.
Generally, about forty thousand flats are sold in Hyderabad every year. This number increases further when the market is doing well. Also, it will take some time for the infrastructure to develop in Amaravati, and multi-story buildings, skyscrapers, and commercial complexes will come up. Also, it will take some time to know how many flats are sold there every year. I think that with the formation of a new government there, it will first focus on developing the infrastructure.
With the completion of the elections in the country, the Telangana government will focus on development. Infrastructure should be developed. Industries, pharma companies, and IT companies should be given priority. As CM Revanth Reddy comes from a real estate background, he knows about the incentives required by the real estate sector. So, we have faith that he will take decisions that will change the shape of Hyderabad in the coming days. Efforts have been intensified to beautify Musi.
Discussions are being held with IT companies and real estate agencies. Meeting IT giants. If the real estate sector goes down, 250 industries based on it will go bust. Because, after agriculture, it is the sector that provides employment and employment opportunities to a large percentage of people. So, it is believed that the government will focus on development.
The main reason for the development of the city of Hyderabad to stand in front of international cities is that every party that came to power put politics aside and carried forward the proposals of the previous governments. Decisions are taken on development matters, irrespective of politics. Hence, this city has reached its level. I hope the present government will act in the same way. The shortage of cash in the market will be gradually met. Banks now extend loans to the construction sector. All the banks are giving us immense support. I am thankful to SBI Bank in this regard.
We are currently developing three layouts on 250 acres in Hyderabad. In this way, at least 3,000 plots will come up. These will be completed this year. We have started two commercial projects spanning five million square feet. Of this, three million square feet will be delivered this year. The remaining two million will be given next year. In terms of residential projects, we are constructing twelve residential projects around the city. We are building these on about 100 acres, or 20 million square feet. Six of these projects will be completed in two years. Three projects will be handed over this year, and another three projects will be handed over next year. We are selling 150 to 200 flats per month. We build projects that are mostly needed by the middle class, so there will always be demand.
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