By laksh5382 
After slow growth in the IT sector, poor growth and fear of sabotage by government agency HYDRAA, real estate developers Hyderabad Now look at the green shoots. He says the worst is over and the area is ready for development.
“Slow growth in the information technology sector, low hiring by IT companies and rise in interest rates have impacted growth. Employed people are also not taking the decision to buy because the increase they get is not enough and there is no guarantee of job. “Potential buyers have postponed their purchase decisions,” said Vijaya Sai Meka, president of NAREDCO (National Real Estate Development Council – Telangana Chapter). The association also felt that the cost of materials had increased, resulting in a sharp increase in prices.
hydra destruction
The association admitted that the demolition by HYDRAA (Hyderabad Disaster Response and Asset Protection Agency) impacted investor sentiment. “But Chief Minister A Revanth Reddy’s assurance that the government will not demolish any structure without proper permission worked,” he said.
“Even people who bought properties ten years ago are starting to get concerned in the wake of the demolition,” he said. Vijaya Sai said the association members followed all the rules and regulations. “No member takes the risk (of doing any project without permission). We take all permissions before starting any project as it involves a lot of stakeholders in the ecosystem,” he said.
However, he acknowledged that some developers would have gone ahead with panchayat (village-level) permission. He said the upcoming Regional Ring Road (RRR), which is three times bigger than the Outer Ring Road, will give a boost to the real estate sector. The Musi River Front project will be an added attraction.
property display
With an aim to boost confidence, the association is organizing a three-day property show from October 25. The 14th edition of the show will showcase over 100 projects including residential, office commercial and retail commercial projects.
“It will be a one-stop destination for buyers and sellers to negotiate and explore options for a wide range of properties. It will be held in a lakh square feet space,” he said.