The 6th Edition of the Hyderabad Property Show 2018, hosted by the Confederation of Real Estate Developers Associations of India (Credai), opened today at the Hitex Exhibition Center bringing together more than 120 developers.
Etela Rajender, Telangana Finance Minister, inaugurated the 3-day property show with the theme “Hyderabad Rising,”.
The show, that concludes on March 4, seeks to highlight the rising stature and brand “Hyderabad” at a time when the real estate market is on upswing and the overall market sentiment has turned positive.
Apart from the display of properties, the show will have live panel discussions on topics related to different aspects impacting the real estate sector and the growth of the city.
S. Ram Reddy President, Credai Hyderabad, said, “We are looking forward to a great year for the real estate sector in Hyderabad. Hyderabad has seen rapid urbanisation offering the best quality of living among cities in India. It has transformed itself as a preferred destination for IT and ITES, gaming and animation industry besides the health care sector.”
According to CBRE estimates, the city’s commercial stock is about 56 million sq. ft as of 2017 with leasing of over 6.8 million sq.ft. of commercial space in 2017. The demand growth is expected to translate into higher demand for residential complexes.
On growing cost of inputs and various raw materials, P Rama Krishna Rao, General Secretary, Credai Hyderabad, said, “We hope that the Government considers our request to standardise the GST rates from 12 per cent to 8 per cent, not just for affordable housing segment, but all real estate projects. This will give a major boost to the industry and help in rapid job creation and relevant skill development by the sector.”