CREDAI Hyderabad Property Show to exhibit credible realty projects

Hyderabad, often recognised as the most livable city in the country, has seen a consistent increase in its real estate market. Despite rising property prices, the city continues to attract homebuyers, evident in the significant rise in property transactions recently - V Rajashekhar Reddy, President, CREDAI Hyderabad

Hyderabad: The Confederation of Real Estate Developers’ Associations of India (CREDAI), the country’s apex body of private real estate developers, announces the 13th CREDAI Hyderabad Property Show at HITEX Exhibition Centre to be held on March 8-10, 2024. The announcement was made in the presence of the CREDAI senior leadership team.

CREDAI Hyderabad Property show 2024 is the largest real estate and property show where home buyers can find their dream home based on their needs, location and budget. Here, buyers can meet and connect with developers and builders directly and embrace the best homes and best deals, under one roof.

In view of the overall development across the city, and the development of industries and demand for housing and commercial real estate, CREDAI Hyderabad has conceptualised the property show focusing on the best and most credible real estate projects in Hyderabad. At the property show, the best projects featuring apartment complexes, villas, plots, and commercial spaces across the length and breadth of the city of Hyderabad will be on display.

V Rajashekhar Reddy, President, CREDAI Hyderabad, said: “Hyderabad, often recognised as the most livable city in the country, has seen a consistent increase in its real estate market. Despite rising property prices, the city continues to attract homebuyers, evident in the significant rise in property transactions reported in November 2023. There was a 25 per cent surge in property deals during November 2023 compared to the previous year. This indicates a strong and enduring interest among individuals to own a home in Hyderabad. Over 6,268 property deals were closed during this period, contributing to substantial stamp duty revenue.”

He further said, “The total value of properties reached an impressive Rs 3.741 crore, showing a substantial 29 per cent growth in value compared to the same period in the previous year. Notably, there's a surprising trend of people opting for more expensive homes, reflecting a desire for a luxurious lifestyle with amenities, security, and a promising return on investment. This shift towards premium housing underscores the city's resilience despite economic challenges. The 13th edition of CREDAI Hyderabad Property show will offer a great opportunity to the home buyers to evaluate the best projects in the city from the most reputed builders under one roof.” Adding to this he also stated, “The future of Hyderabad's real estate market in 2024 looks promising. The growth momentum in the city is going to continue under the present government which has garnered over Rs 40,000 crore of fresh investment to the state, further boosting the need to set up more office and residential space. To improve the infrastructure, they have approved the second phase of the metro rail to even connect the airport and cater to a larger section of the city’s population. They are studying the various global models to develop ‘The Musi Corridor’ into a destination for tourism and business and elevating the appeal of the city. These initiatives give us the confidence that the robust growth in real estate sector is likely to continue in Hyderabad.”

“Even, India's real estate sector is projected to maintain growth momentum in the coming quarters, with domestic inflation levels improving and India's economic growth outpacing global trends. The decision by the Reserve Bank of India to maintain the repo rate is likely to provide additional support to the sector in 2024. Any home buyer waiting to purchase a property after price correction, should decide immediately or they will only end up paying a premium for the property of their choice as we expect a rapid increase in property prices going forward.”

N Jaideep Reddy, President Elect, CREDAI Hyderabad, said, “The booming real estate market in Hyderabad not only reflects the city's economic stability but also showcases a real estate ecosystem built on growth, trust, and value. This attracts both investors and homeowners. The continuous increase in property transactions and stamp duty revenue demonstrates the market's confidence and optimism. Despite challenges such as rising property prices, the Hyderabad real estate market remains robust, offering opportunities for both buyers and sellers. Hyderabad is gearing up for substantial growth in its real estate sector over the next two years, with plans to add around 35-38 million square feet of high-quality business parks. This expansion includes diverse opportunities for homebuyers, investors, and entrepreneurs, ranging from modern residential complexes to advanced commercial spaces and retail options. CREDAI Hyderabad Property show scheduled from 8th to 10th of March offers great opportunity for home buyers to evaluate the best projects in the city under one roof.”

Adding to this B Jagannath Rao, General Secretary, CREDAI Hyderabad, said: “The city's strong business environment has attracted global corporations to establish outsourcing centers, back offices, R&D facilities, and regional headquarters in Hyderabad. This increased demand for office space has led to a significant rise in investment-grade office stock, surpassing 100 million square feet in 2022 and reaching 119 million square feet by the end of September 2023 – a 63 per cent increase since 2019. Hyderabad has become one of the top three cities for office space leasing in the first nine months of 2023, with a 35 per cent year-on-year increase, driven by key sectors such as life sciences, BFSI, and technology. The real estate market is also witnessing major launches, with expectations of over 1.3 lakh residential units in the next two to three years.”

“The growth of the technology sector and industrialisation has led to residential development near key office areas like the IT Corridor and Extended IT Corridor. The demand from multinational company employees and improved infrastructure development boosted the residential market and overall living standards. Certain micro markets like Gachibowli, Kondapur, Nallagandla, Kokapet, Puppalaguda, Narsingi, Tellapur, Kompally, and Shamirpet are experiencing significant growth. Presently Hyderabad is offering the best ROI’s in Real Estate Investments in the country,” he added.