Credai Hyderabad introduces management committee for 2021-23
Announces Hyderabad Property Show 2021 to be held from 13th to 15th of August
Hyderabad: The Confederation of Real Estate Developers Association of India (Credai) Hyderabad announced the appointment of a new management committee for the period 2021 to 2023, who will be responsible for spearheading and strengthening the Credai initiatives in Hyderabad and support the development of the sector in the region. The real estate body also announced its property show to be held between August 13 and 15.
The new team will continue to be led by P Rama Krishna Rao who is re-elected as the president, V Rajashekar Reddy was re-elected as general secretary. G Anand Reddy, Kacham Rajeshwar, N Jaideep Reddy, B Jagannath Rao as vice presidents, Aditya Gowra as treasurer, and Shivraj Thakur and K Rambabu as joint secretaries.
P Ramakrishna Rao, president, Credai Hyderabad said, “We have been navigating through the most turbulent, challenging, and uncertain business environment due to the pandemic. Despite turbulent times, Hyderabad has emerged as one of the most resilient markets amidst the crisis. The proactive policies of the government, pioneering single-window approval platforms like TS-iPass for industry and TS-bPass for real estate approvals have played a pivotal role in driving growth and attracting investments, not impacted by the pandemic.”
“The Growth in Dispersion (GRID) policy will also help to decongest the development in the Western part of the city and spread the growth across the city, creating more avenues for growth of commercial, retail, and residential real estate. This will also continue to keep the city attractive for long-term growth and development as new growth corridors will emerge. Overall, the real estate sector will continue to be on road to rapid growth and go beyond the pre-pandemic levels,” he observed.
Rao further added, “Moreover, the GOs issued by the government to treat the pandemic as ‘Force Majure’ event and extend the validity of approvals by ULB’s and other state agencies by 12 months and extending the facility for payment of development and capitalisation charges in instalments would help the developers proceed with the execution of the projects. The city has been leading the country in terms of the new project launches (almost 2x rise in launches on Y.o.Y basis), the narrowing gap between demand and supply in the city will sustain the growth and bring the price escalation.”
Credai said it is witnessing a demand for bigger 2 BHK and 3 BHK units – to facilitate the setting up of the home office, which indicates a requirement for an upgrade by existing users. “We are quite hopeful that backed by a stable, proactive, and pro-development government led by Chief Minister K Chandrashekar Rao and the reasonable pricing of the real estate, we foresee a continued momentum in the real estate sector in the city,” Rao said.
V Rajashekar Reddy, general secretary, Credai Hyderabad added, “The new team at Credai Hyderabad will focus on identifying growth areas and will work very closely with the government to get the policy stimulus that will help develop the real estate sector in the state and make it a model for others to follow. Over the past few years, we have adopted our business plans in line with the demand and have adopted advanced techniques, better practices to bring out exclusive projects within the reach of the common man.”
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