The Confederation of Real Estate Developers Association of India (CREDAI) Hyderabad announced the appointment of a new managing committee for the period 2023 to 2025. The committee will be responsible for spearheading and strengthening the CREDAI initiatives in Hyderabad and supporting the development of the sector in the region. The new team set the agenda to focus on technical skill development of workforce in line with requirements of constructing high rise modern buildings in association with the Government of Telangana to facilitate better efficiency and productivity, promote sustainable real estate growth in the city, and encouraging initiatives to promote ‘Housing for All’.
Outlining the agenda of the newManaging Committee, Mr. V. Rajashekar Reddy, the President of CREDAI Hyderabad said, “Hyderabad has recorded the highest new office completions and absorption in the country, with 2.9 million square feet of office space transacted during Q3 2023. This will trigger fresh growth and demand in the real estate. We can foresee the demand to increase significantly across Commercial, Retail, Warehousing, and Residential real estate, which will trigger price increase and job creation due to increased activity.”
According to Mr. N. Jaideep Reddy, the President-Elect,“Hyderabad has registered an 11% surge in residential demand during the second quarter of 2023. When compared with the other major Indian cities with comparable infrastructure, Hyderabad’s real estate market offers relatively affordable housing options. This affordability factor has made it an attractive choice for first-time homebuyers and investors. CREDAI will work closely with the government to further build the reputation of Hyderabad as an ideal investment and business destination offering world-class infrastructure and sustainable development.”
Adding to this Mr. B. Jagannath Rao as General Secretary, CREDAI Hyderabad said, “The new body at CREDAI will work towards supporting the members in making the most of the existing market opportunities by adopting new technology for construction, property management, and sales management. Besides, increased activity will require the availability of skilled manpower. CREDAI will work with the relevant authorities to ensure the availability of skilled manpower to fuel the growth”