The Andhra Pradesh Real Estate Developers Association (APREDA), the apex body of real estate companies in Andhra Pradesh, today said that the market sentiment is better now compared to few quarters ago with genuine buyers back in the hunt for properties and speculative buying totally missing.
The focus of several of the large real estate developers has also been to take up affordable housing projects along with their respective existing projects. This has created excitement and opportunity for buyers as the prices have been quite stable after hitting their lows, according to Mr Bhawarlal Jain, Executive Vice President of APREDA.
Addressing a press conference here today, Mr Jain said that the Property Show held here last year amidst agitation and general slowdown managed to attract about 98 exhibitors. This year, the show is set to be larger with more than 80 per cent of the 196 plus stalls already booked for the show.
Several large real estate developers have been taking part in the event. Coinciding with the APREDA Property Show on October 15-16, Foundation for Futuristic Cities (FFC) today announced that a global summit on Vibrant Cities for a Vibrant Economy will be held. The focus of the initiative is to ensure all round development of cities, according to Ms. Karuna Gopal, President of FFC.
“The aim of the conference and the event is to try and make Andhra Pradesh a sustainable and global place to live by adopting best practices from across the world. As vibrant cities create vibrant economies, there needs to be greater focus on urban areas to ensure that the infrastructure grows and keeps pace with the general city and economic growth,” she said.