Telangana's Civil Supplies Minister Proposes Steering Committee to Support Real Estate in Hyderabad
Telangana's Civil Supplies Minister N Uttam Kumar Reddy has introduced a proposal to form a steering committee dedicated to supporting Hyderabad’s real estate and construction sectors. This announcement was made during the 14th Property Show at the Hitex Exhibition Centre, a major industry event organized by the National Real Estate Development Council (NAREDCO).
The committee, which would consist of around ten members from prominent real estate associations such as the Confederation of Real Estate Developers’ Associations of India (CREDAI) and the Telangana Real Estate Developers Association (TREDA), is expected to meet regularly with the minister. Through monthly or bi-monthly meetings, committee members will collaborate with government representatives to address emerging challenges and regulatory concerns, streamlining the path for continued growth in Hyderabad’s real estate market.
Minister Reddy emphasized the importance of real estate developers as key partners in Hyderabad’s economic growth. By working closely with the industry, the Telangana government aims to enhance the city’s appeal as a global destination, creating an environment that attracts both domestic and international investors.
The minister assured developers of the government’s commitment to maintaining a stable regulatory environment, which is critical for ensuring confidence and long-term investment. He acknowledged that industry professionals might feel uncertain due to isolated incidents or reports on social media, but he stressed that the administration is determined to provide consistent support and stability in the regulatory framework. This is part of a broader strategy to create an investor-friendly environment, crucial for sustaining growth and momentum in the real estate and construction sectors.
The Property Show at Hitex, held annually, is a prominent gathering for developers, investors, and industry professionals. It serves as a platform to explore market trends, investment opportunities, and address sector-specific challenges. The event provides stakeholders with insights into both current market dynamics and future growth prospects, positioning it as a key networking venue for Hyderabad’s real estate sector.
Hyderabad has experienced rapid growth in real estate over the past decade, with significant investments flowing into both residential and commercial projects. This growth has contributed to the city's overall economic development, with real estate becoming one of the core sectors driving employment and urban transformation. The Telangana government’s support through initiatives like the steering committee can reinforce Hyderabad’s position as a preferred investment destination, especially as it seeks to become a truly global city.
The formation of this steering committee reflects the Telangana government’s recognition of the real estate sector’s potential in contributing to urban progress. With regular discussions and input from industry leaders, the committee will serve as a proactive approach to address challenges and align government policies with the sector's evolving needs. This initiative is also expected to facilitate streamlined policy implementation, allowing for swift action on issues raised by developers and ensuring minimal disruptions in project timelines.
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