HYDERABAD: Irrigation Minister N Uttam Kumar Reddy has predicted a major boom in Hyderabad’s real estate and construction sectors, driven by a series of ambitious projects announced by Chief Minister A Revanth Reddy, Deputy Chief Minister Bhatti Vikramarka and IT and Industries Minister D Sridhar Babu.
Speaking at the CREDAI Telangana conference at HICC on Tuesday, themed “Telangana Going Global,” Uttam expressed confidence in Hyderabad’s forthcoming real estate surge. He credited the then Congress government for laying the foundation with world-class infrastructure, including the Rajiv Gandhi International Airport, the 162-km-long Nehru Outer Ring Road, PVNR Expressway, Hyderabad Metro Rail and the Krishna and Godavari river water supply.
He highlighted that the current Congress government, under Revanth Reddy, had announced several landmark projects for Hyderabad, such as Future City at Mucherla, the Skill Development University, Metro Rail expansion and the Musi Riverfront Development project. These initiatives are expected to foster growth not only in Hyderabad but also in tier-II and tier-III cities across Telangana.
Uttam noted that with the efforts of the CM and Sridhar Babu, there would likely be a surge in investment in IT, software and manufacturing sectors across Telangana. “Hyderabad’s real estate is set to boom,” he asserted.
He also praised Roads and Buildings Minister Komatireddy Venkatreddy for his role in securing the prestigious Regional Ring Road for and commended the participation of CREDAI members from across the state.
The minister assured CREDAI members that the Congress government is committed to advancing Telangana. “In all your business and building activities, our government is with you,” he said. He emphasised the importance of rapid urbanisation in Telangana, which has reached nearly 45%, and the crucial role of the real estate and construction industry in the state’s development.
He added that Telangana has immense potential for growth.
Addressing concerns raised by the industry, Uttam assured that issues related to growth corridors, building coverage restrictions in peri-urban zones, farm layouts and zoning regulations across the state, including GHMC, would be addressed.
Uttam also pointed out significant changes in Telangana under the Congress governance over the past eight months, noting that while unemployment and underemployment remain challenges, the Skill Development University will provide the industry with skilled youth.
Bhongir MLA Anil, IGBC National vice-chairman C Sekhar Reddy and others were present at the event.