(KING JOHNSON KOYYADA)
The real estate sector in Hyderabad is growing at 34 per cent a year, said Telangana Real Estate Developers Association (TREDA) president Chalapathi Rao Rayudu. Speaking at a press conference organized by TREDA in Hyderabad recently, he said at least 25-30 different projects are coming up in Hyderabad with an affordable price range of Rs 30-45 lakh. He said Hyderabad’s real estate market was the first in the country to effectively recover from the Corona impact.
TREDA is credited with organizing the first large-scale property show to facilitate home buying in Hyderabad. “We keep studying issues pertaining to organizing a property show covering topics to understand the requirements of home buyers including price range, new trends, and latest information among others. Accordingly, we are making changes every year and designing the property show in a new manner,” he said. He said that TREDA has set an example for others in conducting property shows in a professional manner. We are offering stalls at a very low rate. A large percentage of the proceeds will be used for the campaign needed to reach the buyers.
TREDA secretary general Sunil Chandra Reddy said real estate is a great option for those who want to invest. He felt that people learnt the importance of owning a house due to the Covid impact. According to the latest report by Knight Frank, sales of new homes will increase by 150 percent in the first half of 2021. When it comes to IT space, 3.2 million square feet of space has been leased by various companies in Hyderabad. He hoped that the market would continue to improve in the coming three years as the market continues to improve. He advised people to purchase properties only in projects registered with RERA, to avoid unnecessary complications that would force them from running around the police stations and the courts.
Meka Vijay Sai, executive vice president of TREDA said that many companies in Hyderabad are hosting property shows, but the TREDA show is unique where both small and major builders, both participate in the three-day show. Non-members of TREDA also will be given the opportunity to participate. TREDA has 300 registered members. He recalled that the then Chief Minister K Rosaiah inaugurated their first property show in the undivided Andhra Pradesh and the second property show was inaugurated by N Kiran Kumar Reddy. Until then, property shows were held at venues which did not even have parking space. As such, they have selected Hitex for the first time in Hyderabad as a venue for a property show. He said that two or three stalls are being provided at free of cost to some NGOs every year.
TREDA treasurer Sridhar Reddy said that the Association was hosting largest property show in Telangana where builders, financial institutions, construction equipment suppliers etc are participating in large numbers. The show is being held on approximately one lakh square feet space, providing information on at least 500 projects. He pointed out that until two years ago, flats in the vicinity of Hitex were available for less than Rs 50 lakh to Rs 60 lakh. But, the situation has changed and one has to travel at least 20 km from Hitech City, to buy a flat in that price range. He attributed the problem to rising land prices.
At present, the budget range apartments are available in areas like Shamshabad, Narsingi, Kompally, Medchal, Ghatkesar and Nagarjuna Sagar. If delayed further, people might have to face the risk of travelling further to purchase a home within their budget. Therefore, people are advised to realize their dream home without any delay. Sridhar Reddy explained that the TREDA property show differs from other property shows held at the same venue. Only few stalls of major developers were available at other shows. But, TREDA property show will have even smaller players to showcase their projects, which are mostly affordable for the home buyers.
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