CREDAI Hyderabad & TREDA organises Real Estate Summit 2018
- Regulations November 11,2018
The Confederation of Real Estate Developers’ Associations of India (CREDAI) Hyderabad organised The Real Estate Summit 2018 in association with CREDAI Telangana, Telangana Real Estate Developers' Association (TREDA), Telangana Builders Federation (TBF) and Telangana Developers Association (TDA) at JRC Convention centre. The chief guest Shri K. T. Rama Rao, Hon’ble Minister for Municipal Administration & Urban Development, Industries, Mining, Information Technology & NRI Affairs, Govt of Telangana, India, CREDAI senior leadership team including Mr. S. Ram Reddy, President CREDAI Hyderabad, Mr. G Ram Reddy, President CREDAI Telangana, Shri. P Ramakrishna Rao, General Secretary CREDAI Hyderabad, Mr. B Pradeep Reddy EC Member CREDAI Hyderabad along with Mr. G V Rao, President-Telangana Developers Association, Mr. P. Ravinder Rao, President, TREDA , Mr. C Prabhakar Rao President Telangana Builders Federation and other representatives from TREDA, TDA and TBF and more than 1500 developers, stakeholders and industry members were present at the Summit.
The Real Estate Summit 2018 was a platform to understand the emerging trends & policies in the real estate sector. This Summit was organised by all the prominent real estate bodies in Telangana with a participation of around 1500 developers from the state. The renowned research agencies JLL, CBRE, PWC, Global Economic and Political Events that have impact in India. India’s share in GDP growth, Inflation & CPI by Knight & Frank presented the trends in the commercial real estate, residential and retail in Hyderabad and Telangana State over the last few years and outlook for the future. The industry players, leaders along with Shri K. T. Rama Rao reviewed the initiatives and progress made by the sector and also gathered inputs on what needs to be done to further propel the growth for this sector in the future. The real estate sector is one of the most globally recognised sectors. In India, the construction sector is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The Indian real estate market is expected to touch US$ 180 billion by 2020. The housing sector alone contributes 5-6 per cent to the country’s Gross Domestic Product (GDP).
Speaking at the occasion Mr. S Ram Reddy, President CREDAI Hyderabad said “We are happy and delighted to host the Real Estate Summit 2018. Our main objective is to know and understand and assess the key achievements of the Real estate market in Hyderabad and the state. The emerging trends in residential & commercial space and the progress on construction and availability of affordable housing has seen an upward trend. During the last 4 years the government has taken pivotal steps to boost and sanitize the real-estate sector in Telangana. The introduction of TS-RERA, integration of multiple existing master-plans for Hyderabad and preparation of integrated master-plan for Hyderabad etc are few steps which have helped in removing the ambiguity and further streamlined the sector.
We hope the continuity of the reforms and proactive and predevelopment trends to continue in the state and we see the real estate sector really blossom in the near future” Mr. G Ram Reddy, President CREDAI Telangana explained “Telangana has achieved a global prominence as a site for largest establishments for Housing, Commercials, Office Spaces, MNC’s and a vibrant and rapidly growing local entrepreneurship ecosystem driving the growth and job creation in the state. We are hopeful that the state is likely to witness a significant demand in the coming few years. According to CBRE estimates, the city’s overall commercial stock is about 56 million sq. ft as of 2017 with leasing of over 6.8 million Sqft of commercial space in 2017, organized retail space of 2.9 million sqft with over 3.7 million Sqft to be released in next few years. This will translate into higher demand for residential Complexes. For the benefit of the end users the property prices at Hyderabad are the lowest when compared to cities with comparable development and infrastructure.”
Speaking on the occasion Mr. G V Rao, President-Telangana Developers Association said “The Real Estate sector is continuously growing & with the Telangana Government’s growth initiatives and policies and we have established Telangana as a destination for investments. We are hopeful that Telangana Real Estate Sector continues to grow and becomes the best residential, commercial & co-working spaces markets for buyers across all segments”.
Mr P. Ravinder Rao, President, TREDA added “Telangana’s real estate sector is at an inflection point with the new policies, emerging trends and various initiatives in the sector are paving the way towards sustainable growth of the industry and with the regulatory reforms such as GST and RERA showing the results, the sector is poised to grow exponentially. The government has played a pivotal role with the adopted reforms, policy frameworks and with the investments. The Co-working has doubled to 9% in H1 2018. We are hopeful that the trend will continue going forward.”
Mr. C Prabhakar Rao, President-Telangana Builders Federation; co-convener added “Telangana is traditionally an end-user driven market and is witnessing a steady growth both in terms of absorption and value. Over the past decade, the Telangana real sector has completely emerged with the new trends & policies and has resulted in increased demand for Housing & Commercial spaces. We hope this will strengthen the Telangana Real Estate Sector”
Adding to this Mr. P Ramakrishna Rao, General-Secretary CREDAI Hyderabad said “The real estate market outlook for Hyderabad looks positive, backed by a growing demand, improving infrastructure and the availability of a larged skill pool. According to CBRE estimates, Total organised retail space in the city Hyderabad stood up to 2.9 million sq. ft., the majority of which is concentrated in Central and Western Hyderabad. We are hopeful that the city is likely to witness a significant demand for the real estate sector in the coming few years.
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