Hyderabad News | City poised to become a global investment hub: Uttam Kumar Reddy

Hyderabad: Telangana Irrigation and Civil Supplies Minister Capt. N Uttam Kumar Reddy has stated that Hyderabad is on track to become a global destination for investment.

Speaking as the chief guest at the state-level conference “STATECON-2024,” organized by the Confederation of Real Estate Developers’ Association of India (CREDAI) at the Hyderabad International Convention Centre (HICC) in Madhapur on Tuesday, Uttam assured that Hyderabad would gain recognition not just within India but internationally. He emphasized that the growth of Telangana is unmatched by any other state in the country.

The Minister pledged the state government’s full support to the real estate sector, expressing his satisfaction with the large turnout of CREDAI members from 15 chapters across the state. He highlighted the importance of such conferences in bringing the challenges faced by the real estate sector to the government’s attention.

 “Our government is committed to elevating Hyderabad to the next level and providing all possible support to the real estate sector,” he assured.

Urbanization in Telangana is progressing rapidly, with nearly 48 percent of the population now living in urban areas. In this context, the real estate sector plays a key role in the state’s growth and is a vital partner in its progress. The government, aware of this, will address the challenges faced by the real estate sector.

Uttam expressed pride in Telangana’s rapid growth, noting that even as a newly formed state, it has achieved significant progress—not just in Hyderabad, but across the entire state.

 He credited Congress-led initiatives such as the GMR Airport, Outer Ring Road (ORR), P V Narasimha Rao Expressway, Metro Rail, and the provision of drinking water from the Godavari and Krishna rivers for Hyderabad’s global recognition.

He added that the government is planning innovative projects, including the Musi River Front, Metro expansion, the Future City in Mucherla, and a Skill University, all aimed at putting Hyderabad on the global map.

The Minister dismissed concerns about a slowdown in Hyderabad’s real estate market due to government changes in both Telugu states as a misconception.

According to government data, Hyderabad’s growth rate remains consistent. He emphasized that the current Congress government is transparent, with officials and ministers accessible 24/7.

He assured that issues related to real estate, including growth corridors, the removal of the 25 percent building coverage restriction, Peri-Urban Zones, farm layouts, affordable housing, stamp duty reduction, and skill development, would be addressed.

In his address as a guest of honour, Telangana Roads and Buildings Minister Komatireddy Venkat Reddy criticized the previous administration, claiming that it was limited to princely governance where only two individuals held sway.

He argued that one was often at a farmhouse, while the other took selfies abroad. He stressed that the current government is different, with problems able to be directly brought to their attention.

Komatireddy highlighted the previous government’s debt of Rs 7 lakh crores and credited the Congress era for the development of the ORR, which was further advanced under the leadership of late Chief Minister Y S Rajasekhara Reddy. He mentioned that new tenders for the Regional Ring Road (RRR) project would surpass even the ORR and emphasized the government’s focus on developing the city’s southern side.

Bhongir MLA Kumbam Anil Kumar Reddy, CREDAI Chairman Murali Krishna Reddy, CREDAI Telangana President E Premsagar Reddy, CREDAI President-elect K Indrasena Reddy, CREDAI Telangana Secretary G Ajay Kumar,CREDAI National Secretary G Ram Reddy, Secretary and among others were also present at the event.