VISAKHAPATNAM: Minister for Municipal Administration and Urban Development A Suresh has said Andhra Pradesh, which is top in ease of doing business, has further strengthened it to ensure seamless integration of entire processing activity by removing bottlenecks so as to give clearances for the realty sector in a fast-track mode.
Inaugurating the two-day fourth edition of the New India Summit - 2022 being organised by the Confederation of Real Estate Developers’ Associations of India (CREDAI) here on Friday, he said the YSRC government’s focus is now on affordable housing for all. About 30 lakh houses will be constructed under the programme and construction of 15 lakh houses has already begun in Jagananna Colonies.
The government is contemplating developing smart cities in all the 26 districts of the State and major focus is on tier two, three and four cities and towns, he said.Suresh thanked CREDAI for hosting the summit in AP, particularly in Visakhapatnam, which is a ‘Happening City.’ Vizag is being developed as a financial, administrative and industrial hub, he said.
As many as 500 delegates from across the country gathered to discuss opportunities and challenges in tier 2, 3 and 4 cities and prepare a plan of action to address the challenges.Speaking to mediapersons CREDAI national president Harsh Vardhan Patodia said non-metro cities will be the new revolution in the realty sector to achieve a $5 trillion economy.
Covid-19 has impacted the business and economies in all parts of the world. Geography is not relevant in the post-Covid era due to flexible working style. All the States are trying to decongest larger cities and develop tier II, III and IV cities. The work from home and flexible approach, improvement in the logistics sector and low-interest rates on housing loans will certainly give a fillip to construction activity, he opined.
CREDAI national vice-president G Ram Reddy said the realty sector market is growing fast in South India now.