“City’s development depends on real estate prices”

In last eight years, the State government has built 50 lakh housing units for the poor and construction of another 19 lakh dwellings was in progress.

“Around 10 lakh more units will be added in next three years to ensure that those living in huts get a proper dwelling,” said the Chief Minister N. Kiran Kumar Reddy.

Speaking at the inaugural of the AP Real Estate Developers’ Association (APREDA) Property Show here on Saturday, Mr. Reddy said development of the city also depended on the real estate prices and urged builders to make property prices affordable and ensure litigation free properties.

“Infrastructure in Hyderabad can be rated among the best in cities across the world. The improvement and beautification started with recent CoP-11 meeting will continue to make the city a more appealing destination,” he said. Issues related to drinking water supply and electricity shortages were being attended to by the government on priority basis.

Tourism was high in the State but most of it was pilgrim based and there was need to develop other avenues, Mr. Reddy said adding that infrastructure and conferencing facilities like in Hyderabad would be developed in places such as Visakhapatnam, Tirupati and one of the Telangana districts.

In his address, Union Minister of State for Tourism K. Chiranjeevi described real estate as a major contributing factor in employment, poverty alleviation and country’s GDP.

On tourism potential of the State, he said there were many locations such as those in East Godavari and Visakhapatnam which were yet to be tapped. “You identify the places of potential and we will develop them to make A.P. a tourism hub,” he said.

Minister for Municipal Administration & Urban Development M. Maheedhar Reddy, pointed out that the growth of the city so far had been more in the western parts and said the eastern side too was poised for development with the Metro Rail.

The AP Chapter of the National Real Estate Development Council (NAREDCO) was also inaugurated on the occasion. The property show at Hitex is open on Sunday from 10 a.m. to 8 p.m.