CREDAI Hyderabad Property Show inaugurated

CREDAI Hyderabad Property Show inaugurated by Shri. K. Chandrashekar Rao , Honorable Chief Minister of Telangana  State

CM outlines Vision for “Brand Hyderabad’ and sops for Real Estate Sector

 CREDAI  Hyderabad Property Show 2014 was inaugurated today by the Hon’ble Chief Minister of Telangana State Sri K. Chandrashekar Rao - along with the Guest of Honor Sri  Md. Mohamood Ali, Hon’ble Deputy Chief Minister and Mr. Nayani Narshimha Reddy , Hon’ble Home Minister  Government of Telangana State, other ministers, in the presence of CREDAI senior leadership team comprising of Sri C. Shekar Reddy- President, CREDAI National, Sri N. Jaiveer Reddy-President, CREDAI Hyderabad, Sri S. Ram Reddy, General Secretary CREDAI Hyderabad and a large number of developers, stakeholders and industry members.

CREDAI Hyderabad Property Show which will be open till 31^st August 2014 has the participation from over 150 developers and financial institutions, building materials manufactures , suppliers and other stakeholders. The home buyers will get a wonderful opportunity to find out the best projects on offer in the city under one roof. CREDAI believes that the Hyderabad Real Estate is poised to grow further and the outlook is highly positive. The city of Hyderabad, which has better infrastructure comparable to other metros, offers residential properties at a much lower price. With the new government under the progressive leadership of  Shri. K. Chandrashekar Rao, CREDAI is confident that “Brand Hyderabad” will emerge as the leading destination for the real estate investments in the future.

Welcoming the dignitaries Mr.  S. Ram Reddy General Secretary CREDAI Hyderabad said “The development plans outlined by the government under the leadership of Hon’ble Chief Minister , Shri K. Chandrashekar  Rao garu  will put Telangana on a fast pace growth and fuel development. We share your vision to make Hyderabad a Global smart city and bring forth a 5 pronged strategy to make it a reality. The development of physical infrastructure is the key. The removal of the roadblocks like DAGDA stamp duty, VAT of real estate, Seignorage charges, nala- abolition, city level impact and high electricity charges will facilitate growth. Developing transparent market friendly single window concept will give a major boost to real estate and infrastructure at local level.   Grid planning and improving the accessibility to  ORR and a clarity on growth corridor along ORR will help stimulate development and last but not the least the need to improve the image of Hyderabad with the financial institutions to improve credit availability to fuel growth.

 

 Speaking about the CREDAI Hyderabad Property Show, Mr. N Jaiveer Reddy, President CREDAI Hyderabad said, “We thank  Shri K. Chandrashekar Rao Hon’ble Chief Minister of Telangana State for inaugurating the  1^st CREDAI Hyderabad Property Show in Telangana today. The property show is displaying more than 350 projects comprising of apartments, gated communities, villas and row houses available to the home buyers across the twin cities. The present property market is stable and is showing signs of improvement.  The twin cities of Hyderabad & Secundrabad offer the world class infrastructure and amenities to the consumers.  The Hyderabad property show is poised to further accelerate the market and will provide the best real estate options to the consumers. We strongly believe that this is the right time to purchase property as the prices are going to increase in the near future. ”

Speaking on this occasion Mr. C Shekar Reddy National President CREDAI said, “The Government of Telangana State under the Leadership of our beloved Shri K. Chandrashekar Rao garu   has been emphasizing on the need for development and your speeches are creating a positive impact across the globe. The pro industry and city development policies announced by the government so far will further enhance the image of “ BRAND Hyderabad . We are organizing the CREDAI Property show for 3 days and will have extensive deliberations through panel discussions to  make Hyderabad  a Global Smart city. ” He further added that “CREDAI   Property show has always generated a lot of interest across demography’s. We are hopeful that this show will go a long way in building the confidence of people in the Real Estate Sector in the city. We are confident that Telangana will see balanced and rapid development as plans are in place to ensure a steady growth . Presently the real estate sector in  Hyderabad is stable  and we expect manifold increase in prices for residential apartments within next 6-8 months. “

Speaking at the inauguration ceremony of CREDAI Hyderabad Property Show Shri K Chandrashekar Rao, Chief Minister of the state of Telangana said “Telangana will be a ‘Zero tolerance zone for corruption’.  The Development was not done properly with a futuristic view. Hyderabad will be developing rapidly in the next few months.  I am pained to hear that  Real estate sector  which employs 20 lakh people,  but requires almost 40 NOC’s to undertake any project. I assure my friends in the Real Estate Industry that we will discuss  and remove the unnecessary NOC. I will also take  up the issue of civil aviation NOC with the centre. We will also get a Single Window System for approvals for projects shortly.”

Praising Hyderabad as a location he added that “Hyderabad has the best cosmopolitan yet warm and welcoming culture, moderate climate and lies in a non sesmic zone  making it an ideal destination to settle down. To improve the city further we will allocate Rs.24000 Crs for 3 GHMC projects. In the First phase of Rs.10000 Crs will be allocated towards development of new international standard roads. We will have roads with a special provision to avoid cabling issues in future.  We will be allocating Rs.15000 Crs on improvement of the drainage system in the city. We will  also convert all lights in the city with LED lights for better quality. We plan to construct two flyways connecting East with West and North with South of the city to ease the future traffic congestion.  This will be our effort to make Hyderabad a Global Smart city. “

He further added that “The government will give full support for the development of the real estate sector and to promote the Real Estate Sector in Telangana state. There will be no VAT on Real estate units as the tax is collected on all the inputs used for construction. We will continue the installment system for the payment of the impact fee and withdraw the recent GO withdrawing the scheme to this effect. Seignorage charges excluding the parking area will be fixed at Rs.3/ sft  and will  be collected at the approval stage by the local Authority. The GO will be issued for all these modifications  in a short period of time. We will also conduct a meeting with the team from CREDAI, global consultants and other experts to prepare a plan to make Hyderabad a Global Smart City.”

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