To instill renewed confidence among home buyers, the NAREDCO Telangana is gearing up to host its 12th edition of property show. Around 110 stalls will be set up during the three-day sales festival commencing from September 23 at Hitex in Madhapur. Developers along with banks and building materials suppliers will participate in this real estate exhibition, which will be set up in an area of one lakh sq.ft. Buyers can obtain all the information pertaining to plots, flats, luxury villas, construction materials, and home loans is available at this property show, which is being touted as Telangana’s largest property show. Considering the festive season, there is no better time to buy a property.
Hyderabad has grown rapidly in the last seven years. The main reasons for this can be attributed to be political stability, large scale infrastructure development, and promotion of IT and innovation sectors. Ranked at fourth among fastest growing cities, Hyderabad is expected to become one of the largest cities in the world by 2035. Post-Covid, around 12 million sq.ft of commercial space in the city, was taken on lease by various companies. Real estate should be purchased only in RERA approved projects.
– Sunil Chandra Reddy, President, NAREDCO Telangana
Abolition of GO 111 had no adverse effect the realty sector in Hyderabad. As long as new regulations are not formulated regarding the catchment areas of Himayat Sagar and Osman Sagar, no development will take place in the GO 111 area. However, both buyers and developers are facing severe difficulties due to increased GST. Buyers have to pay around 18 to 20 percent of the flat value in the form of various taxes. Therefore, I request the government to reduce taxes to promote affordable housing. The Russia-Ukraine war also affected the supply of construction materials which in turn resulted in increased prices. The prices of aluminum, windows and other construction material have increased by 25 to 30 percent.
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