The Hindu : Andhra Pradesh / Hyderabad News : Real estate boom to continue

Online edition of India's National Newspaper
Sunday, Dec 17, 2006
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Real estate boom to continue

Staff Reporter

45 stalls representing real estate firms and builders, building material companies and banks are taking part in the exhibition

HYDERABAD : The real estate boom in the city is bound to continue backed by various positive features going in its favour and even the separate Telangana factor will not slow down the remarkable growth witnessed in the last two years, say veteran real estate developers and builders.

Speaking at the inauguration of the third Property and Building Material Expo 2006 at People's Plaza, Necklace Road, on Friday, Chairman of Jayabheri Properties (P) Ltd. M. Murali Mohan said that IT sector had paved the way for development of the city in all spheres - real estate, hotels and malls.

The Telangana factor would not impact the real estate growth negatively and the healthy IT sector and other infrastructure projects would continue to fuel the growth, he said.

AP Builders Association president K.Ravinder Reddy said it was understandable that people were confused about investing in real estate as some felt the prices had already touched the peak and some were sceptical in view of Telangana factor.

Infrastructure

But Mr. Reddy reiterated that irrespective of Telangana issue, thanks to the successive Governments, infrastructure projects were getting a boost.

Instalment facility

He, however, said that because of GO 86, big projects and townships would come to city. As Income Tex exemption would be given to projects taken up before March 2007, the Government should expedite permissions.

He also appealed for instalment facility for builders of big projects in payment of fee running into crores of rupees and continuation of IT exemption to big real estate projects for another five years.

When more houses were available, prices and rents would be reasonable, he said.

Chief executive of NRS Forums Nazeer said that 45 stalls representing real estate firms and builders, building materials companies and banks were taking part in three-day exhibition. Visitors could get all information about different ventures and related information at one place.

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