Minister for Irrigation and Water Resources Devineni Umamaheswara Rao said the government’s commitment to building 16 lakh houses in the next two years offered a huge opportunity for the players in the construction industry. The upcoming capital city Amaravati was also a great chance for them to become partners in the mega project, he asserted.
Addressing the inaugural session of the three-day CREDAI (Confederation of Real Estate Developers’ Association of India) Property Show here on Friday, Mr. Umamaheswara Rao said builders could bring down the costs of construction by using latest technology.
‘Historic opportunity’
“Andhra Pradesh is on fast-track with renewed thrust on development schemes, and due priority has been attached to building the capital city to global standards. This is a historic opportunity for everyone. Real estate projects which are reasonably priced and complying with the laws of the lands are a crucial component in the larger scheme of things,” he added. Minister for Backward Classes Welfare Kollu Ravindra said the Chief Minister provided social security in the form of insurance to workers in the unorganised sector while propping up the real estate businesses.
A.P State Planning Board Vice-Chairman C. Kutumba Rao said the Government was giving various subsidies to the construction sector and making budgetary provisions for them. Vijayawada East MLA Gadde Rammohan and CREDAI President (A.P) A. Siva Reddy were present.
The show is hosting about 90 stalls featuring builders, corporate developers, and other stakeholders.
