Irrigation Minister Capt N Uttam Kumar Reddy predicted a boom for Hyderabad’s real estate industry driven by projects announced by Chief Minister Revanth Reddy, Deputy Chief Minister Bhatti Vikramarka and IT & Industries Minister D. Sridhar Babu. Speaking at the state conference of the Confederation of Real Estate Developers’ Associations of India (CREDAI) Telangana at the Hyderabad International Convention Centre (HICC) on Tuesday Uttam said that he is confident that Hyderabad is about to witness a real estate boom.
He said the current Congress government had announced many landmark development projects for Hyderabad like the Future City at Mucherla, the Skill Development University, the expansion of the Metro Rail, and the Musi Riverfront Development Project. These projects have created an atmosphere conducive to growth not only in Hyderabad but also in tier-2 and tier-3 cities across Telangana, he said. He said that the efforts of Chief Minister Revanth Reddy and Industries Minister Sridhar Babu are likely to bring a surge in investment in the IT and manufacturing sectors. He also praised Roads and Buildings Minister Komatireddy Venkat Reddy for playing an important role in bringing the Regional Ring Road to Telangana. He assured CREDAI that the Congress government is committed to taking Telangana to the next level. “In all your business operations our government is with you,” he said. Addressing concerns raised by the industry, he said that issues regarding the growth corridor, building coverage restrictions in peri-urban zones, farm layouts and zoning regulations were justified. He also noted CREDAI’s support for the government’s initiative to increase the book value of land and promised to study issues like reducing stamp duty and revising the master plan. He urged industry leaders to submit written representations so that they can be addressed effectively.
