HYDERABAD: State Bank of India, Hyderabad Circle is organising a three-day event, Mega Property Expo, from December 20-23 at Hitex Exhibition Hall-4, Madhapur.
For the last four years, SBI has been conducting the mega event bringing together a host of prominent members of the builder fraternity on one platform.
The programme was inaugurated by Rajesh Kumar, CGM, Hyderabad Circle, with Manju Sharma, Chief General Manager REHBU, Corporate Centre, Mumbai, General Managers Prakash Chandra Baror and Shri Ravi Kumar Verma of Hyderabad Circle and other senior dignitaries of the bank.
In her address, Manju Sharma said that real estate is a game changer in terms of contribution to GDP. “At present real estate growth rate is 7% and by 2047 it is expected to reach 17% at CAGR of 10% and SBI is achieving 14 % growth every year.”
She added, “Premiumisation of real estate is happening because of rising demand and increase in the income level of the public. One lakh units were sold in the last three years. Hyderabad contributes 12 % of India’s total housing stock and is growing at 2.2 times in the last five years and 3.3 times in the last 10 years in the housing sector.”
Rajasekhar Reddy, president CREDAI in his address, appreciated SBI for conducting a property expo of this magnitude. He explained the concerns raised by the industry were taken up by CREDAI with the government and the positive outcome will aid the growth of real estate in the state. He appealed to all the customers to repose confidence in the Hyderabad real estate and utilise the Mega Expo to choose their dream home.