FDI in realty is a big challenge: Venkaiah

Hyderabad, Oct 17 (INN): Union Minister for Urban Development M Venkaiah Naidu has described FDI in reality as a big challenge.

Inaugurating the 5th Telangana Real Estate Developers Association (TREDA) conference and Property Show at the HICC here Venkaiah Naidu said, 'If you want real estate to grow, the interest rates have to come down. Today credibility and affordability of housing for all is more important for real estate sector.

Union government is committed to bringing the real estate development and regulation bill in parliament in the ensuing winter session of parliament. And I can assure you regulation will not become strangulation.'

He further added, 'Real estate sector is the engine of growth. Housing for all, Swach Bharat will only become possible with public private partnership. I can assure full support from Modi government to fructify his vision of 'housing for all by 2022'.

We have to respect the mandate of people of having elected TRS in Telangana and TDP in AP. Delhi and Hyderabad must work as a team for accelerating growth of India. I welcome the effort of TRS government for two bedroom houses out of which one bedroom to be funded by the state and another by centre.'

Dr GBK Rao, chairman and managing director Pragati group, senior governing council member TREDA and the principal partner for the conference addressing the media on the occasion said, 'Secret of health, wealth and prosperity lies in emulating the practices of Indian scientific traditions as enshrined in our Vedas, Pragati's mosquito and virus free, bio-diversity park is it's living example.

Pragati's man made bio-diversity park at Proddutur village near Hyderabad spread over 2500 acres comprising of farmlands and farmhouses has been transformed into a lush green, bio-diverse, self sustainable living space based on the practices of Indian scientific traditions, sacred methodologies and adopting a holistic approach.

'The arrangement of mosquito repellant, anti-viral plants at various pockets here has enabled to make the area completely free from mosquitoes and viruses.

Intensive efforts for creating a unique collection of sacred and heritage plants from across the nation, preservation and conservation of all the creatures based on the principles of coexistence has resulted in the growth and propagation of 750 rare varieties of herbal, medicinal and sacred plants here,' Dr Rao added and appealed to the Telangana government to replicate the Pragati model in various parts of Telangana.

The contribution of Pragati group as a role model for a clean, green, resurgent Hyderabad was applauded by Paparao Rao, advisor to chief minister, Telangana government. He said the mosquito free, virus free, disease fee and pollution free Biodiversity Park developed by Pragati using the rich knowledge of Vedas is noteworthy and needs to be adopted everywhere.

The topic for this year's TREDA Conference is 'Resurgent Hyderabad-Tomorrow Beckons'. The conference featured 'Contouring Hyderabad-Vision to Reality' in the first session and 'Brand Hyderabad' in the second session, which was attended by almost 300 delegates from a wide cross section of industries. TREDA President P Dasharath Reddy, M Vijay Sai, secretary general TREDA, Sunil Mantri, President, NAREDCO were other members present on the dais and addressed the gathering.