Hyderabad: In tune with State government’s Look East planning for the city, the Confederation of Real Estate Developers’ Associations of India (CREDAI) has launched a two-day Hyderabad Property Show East 2019 at Saroornagar Indoor Stadium. Education Minister P Sabitha Indra Reddy and Labour Minister Ch Malla Reddy inaugurated the expo on Saturday.
Over 62 stalls, exhibiting nearly 5,000 units, including apartments, villas, plots and commercial spaces, catering to different requirements have been showcased. CREDAI Hyderabad president P Ramakrishna Rao said the city real estate was showing growth at a time when others including Delhi, Mumbai and Bengaluru, recorded a sluggish growth. The ‘Look East’ approach of the government envisages spreading the development across the city with a focus on the eastern side especially areas such as Uppal, LB Nagar, Keesara, Sagar Road Vijayawada Road, Adibatla, etc. which would be developed on par with other prominent hubs, he said.
The eastern side of the city is likely to benefit due to the existing infrastructure of Metro connectivity from Nagole to Hitec City and proximity to the ORR. This apart, lower rentals and special incentives announced by the government would attract fresh investments in office complexes and malls coming up in the region, he added.
CREDAI general secretary V Rajashekhar Reddy said, with the government’s plan for development of IT corridor and other industries, eastern part of the city is likely to be at the forefront of future development here.