HYDERABAD: Riding the industrial recovery wave spearheaded by manufacturing and warehousing units in Telangana, realtors in Hyderabad are looking forward to investing in affordable housing. The Confederation of Real Estate Developers Association of India (CREDAI) members, in their recent field visits, have identified four industry-heavy spots — E-City, Sultanpur Medical Park, Genome Valley and Shamshabad — and requested the State government for a plan of action to allot land for affordable residential projects.
Realtors, who were dependent on the IT revolution, are now planning on riding the crest of the manufacturing revolution. In addition to this, with e-commerce booming during the pandemic, warehousing and packaging industries have also grown, offering a juicy opportunity.V Rajashekhar Reddy, general secretary of CREDAI, said the members recently met Industries Principal Secretary Jayesh Ranjan in this regard.
“We discussed setting up an exclusive construction material industrial park. Jayesh Ranjan suggested that we visit some places to have an on-the-ground idea before taking the proposal further. We have also spoken to him about the possibility of land allotment for affordable housing as these areas will attract employment in thousands in the next couple of years,” said Rajashekhar Reddy, general secretary of CREDAI.
“Welspun, one of the largest manufacturing investors at Chandavally, has already hired 2,500 people, of which 50 per cent are from the State and the others from different parts of the country. Radiant Technologies, too, has around 2,000 people working for them and only 15 per cent are localities. These rising numbers of employees will require housing and office spaces. However, commercial space investment is something that we are not yet sure will benefit us,” he said.
Explaining the need of a construction material industrial park, he further added that, “In our construction industry, we require over 250 kinds of materials. If we explore the possibility of setting up some units, it will definitely help in minimising the time and transit cost. Moreover, it creates local employment.”
‘Housing units will help create local employment’
Explaining the need for a construction material industrial park, CREDAI general secretary V Rajashekhar Reddy said: “In our construction industry, we require over 250 kinds of materials. If we explore the possibility of setting up some units, it will help minimise the time and transit cost. It also creates local employment. Tiles, doors, windows, electrical components, plumbing material and so on, are the products.”