The realty sector in the city is all set to get a boost with the Union Cabinet recognising Hyderabad as an IT Investment Region (ITIR).
However, the city will still remain the most affordable place compared to other bigger cities in the country, said P. Dasharath Reddy, president of the Andhra Pradesh Real Estate Developers’ Association (APREDA).
Investments of over Rs. 2 lakh crore, as part of the ITIR project, will generate direct employment to 14 lakh people, besides providing a boost to the real estate sector, Mr. Reddy said on Wednesday. And despite construction activity having gone up tremendously in the last three years, prices have remained stable, he said.