V Rajasekhar Reddy
CREDAI Hyderabad General
Secretary V Rajasekhar Reddy
Hyderabad: The demand for properties in Hyderabad became known to world at large due to the CREDAI property show, avers CREDAI Hyderabad General Secretary V Rajasekhar Reddy. Speaking to Real Estate Guru at the valedictory of the property show recently, he said that the turnout of people at the property show was large in spite of the pandemic situation and those who turned out appeared to be real buyers having interest to buy property. They sought information about properties that are within their budget. They did not waste time enquiring about more and more projects. At some stalls, the buyers paid advance directly and booked the flats, he observed.
What is interesting is that the buyers are not choosing projects after visiting 10 or 20 projects. They are not wasting time. They are bothered about where the project is located? How many flats are going to be built? What would be the elevation? They are worried about the amenities offered, whether the builder is capable of completing the project and taking a final decision on the project, he said. The demand for the real estate in the city is on the rise, if the response of the visitors to the exhibition is any indication. This most favourable atmosphere is likely to continue till March next year, he said.
Doubts over the buyers venturing out or not have been dispelled on the very first day of the property exhibition with the huge turnout of the people at the show, he said. Middle classes enquired about 2BHK apartments, while the rest gathered information about 3BHK flats in the budget range of Rs 1 crore to Rs 1.50 crore. They only focussed on premium locations. Those who want to buy villas on the outskirts limited their budget to Rs 2 crore to Rs 2.5 crore, he said. For the builders to make available flats at affordable rates to middle classes, the government should allot lands to builders at nominal prices. It should develop basic amenities. If the increased cost of sites is taken into consideration, construction of flats would be very difficult for the builders.
Many national and international organisations have set their foot in Hyderabad as a result of revolutionary decisions taken by the Government of Telangana. It is the duty of the government to construct houses for employees working in these organisations, it is advisable to the government to entrust the task to private builders, he said. In Chandan Valley, 2000-3000 employees are working in Amazon and Well Spun companies. Daily, it is not feasible for them to travel to Shamshabad. Moreover, the number of employees is likely to grow in future. Therefore, it is better to build homes then and there for employees working in the cluster. It is possible to build quality houses if the government gives land to developers near Pharma City providing basic amenities there, he said.
“The State Government should allot land ranging between 5 to 25 acres at various places to developers to improve competitiveness among them. Then only, they will be able to build quality apartments. For example, houses meant for common man should be built in all four corners of Hyderabad like Maheshwaram e-city, Budwel, Kollur,” he said. As part of the government’s townships development policy, the government should provide land to the developers at nominal price near Vijayawada Highway to Medchal Highway as the lands are suitable for building homes, he said.
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