Hyd realty not hit by bifurcation issue
HYDERABAD: Hyderabad's real estate market has not only remained unaffected by the state's bifurcation but also didn't witness any dip in prices, Confederation of Real Estate Developers Associations of India (Credai) has said.
'In fact, everyone's looking to invest here and the outlook is bright,' C Shekar Reddy, national president of Credai said. He said that prices have already touched rock-bottom following the global economic recession and uncertainty over separate Telangana.
'Prices will not fall further. Instead, we foresee a 20-25 per cent rise in prices in the next six months,' S Ram Reddy, state president, Credai, said.
The sector has been witnessing subdued demand both from residential and commercial consumers. While the economic slump resulted in sluggish demand for office space, end consumers have deferred property purchase anticipating correction in realty prices and interest rates. Meanwhile, Credai Andhra Pradesh elected its new office- bearers.
They are S Ram Reddy, (founder of SMR Holdings), president, A Siva Reddy (MD of Maheswari Builders & Promoters) vice-president, G Ram Reddy (founder of Ark Infra Developers) general secretary and S Venkataramaiah (MD, Vasavi Builders and Developers) treasurer.
Drawing a two-year roadmap, the local chapter representatives said, the trade body would focus on development of new property hubs in the state besides increasing the number of Credai chapters in the state from the current 18 to 30.
News Posted: 7 September, 2013
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