Andhra Pradesh IT Minister Ponnala Lakshmaiah today said that Hyderabad is a vibrant city with unique traits and strong physical and social infrastructure and its growth momentum will continue irrespective of bifurcation of the State.
Addressing the inaugural session of the Credai Hyderabad Property show here today, he said that the city is a major hub for IT and continues to grow with several major projects in the anvil. This will only help trigger more demand for real estate in the city.
However, he felt the power will continue to be one of the major concerns in the near term and calls for reorientation and prioritising its development.
The three-day property show is being hosted in the city in the backdrop of bifurcation of the State into Telangana and Andhra Pradesh. The real estate sector has been impacted in the last few quarters due to agitation for separate statehood with most potential purchasers postponing their decision.
The builders’ community believes that with uncertainty now put behind, things would get better for realtors and also for buyers.
The property prices have remained stable for quite some time and they say that it is right time to enter the market and buy the right one.
N. Jaiveer Reddy, President of Credai Hyderabad chapter, said Hyderabad offers the best infrastructure and connectivity within the city and it continues to be a preferred destination for IT/ITES companies, gaming and animation industry and more importantly health care sector.”
“The property prices are the lowest when compared to cities with comparable development and infrastructure. The show organised by Credai provides the right platform for potential buyers to strike a deal,” he said.