A three-day real estate exhibition of Confederation of Real Estate Developers’ Associations of India (CREDAI) began on Saturday at A U Engineering College Grounds.
Around 130 stalls have been set up of which 90 are by developers showcasing 200 projects, including layouts. The show also comprises building material stalls and counters of various banks.
Inaugurating the show Vizag Property Expo-2017, HRD Minister Ganta Srinivasa Rao said housing prospects improved after hosting the prestigious IFR and investors’ conference and TECH-2017 owing to migration to the city. CREDAI had gained credibility and was able to host such shows successively.
Mr. Srinivasa Rao said he would facilitate and coordinate resolution of any issue with the State government and recalled how he had discussed the sand issue with CREDAI several times.
MP K. Haribabu said IT, tourism and pharmaceutical sector were thrust areas for development of the city real estate sector had good prospects. Of the 85 pharma industries proposed, 40 started production, 20 were in pipeline and 15 in initial stages.
MLC M.V.N. Madhav said with its infrastructure improving the city had the potential to join the ranks of metros.
SBI DGM M.B. Divakar said the loan proposals made during the show would be sanctioned in a week to 10 days.
CREDAI, Visakhapatnam, president P. Koteswara Rao spoke.
