Conference-themed ‘Telangana Going Global’ discusses emerging opportunities for development throughout the state.
Hyderabad: August 20th, 2024—CREDAI Telangana, the apex body of private real estate developers in Telangana organised STATECON 2024 . The event was inaugurated by Shri N. Uttam Kumar Reddy, Minister for Irrigation, Food and Civil Supplies, Govt. of Telangana along with Shri Komatireddy Venkat Reddy, Hon’ble Minister for Roads, Buildings and Cinematography as well as Shri Kumbam Anil Kumar Reddy, MLA – Bhongir in presence of Shri Murali Krishna Reddy, Chairman, CREDAI Telangana, Shri E. Premsagar Reddy, President, CREDAI Telangana, Shri. K. Indrasena Reddy, President-Elect, CREDAI Telangana, Shri. G Ajay Kumar, Secretary, CREDAI Telangana . Shri G Ram Reddy, Secretary, CREDAI National, Shri N Ramachandra Reddy, EC Member CREDAI National were also present at the event.
The theme for the convention was Telangana Going Global which highlighted the growth and future prospects of the state of Telangana. CBRE also released a research report which provides a detailed analysis of the state’s economic landscape, underscoring Hyderabad’s centrality and the substantial yet untapped potential of its tier 2 and tier 3 cities. The report focuses on states forward thinking policies and strategic initiatives presenting Telangana as a compelling investment proposition for global and domestic capital.
The sessions at STATECON 2024 delved into the opportunities and challenges to envisage the journey of going Global with a focus on the existing landscape, drafting a blueprint of success for the Real Estate sector, making the state a global investment destination, developing the roadmap of upskilling the youth to grab the opportunities, and building a sustainable, green and smart state. Around 900 member developers from across Telangana attended the conference. They gained insights from industry leaders, policymakers, and stakeholders and explored innovative strategies, emerging trends, and collaborative opportunities within the real estate domain.
According to Shri E. Premsagar Reddy, President, CREDAI Telangana, “Telangana is the youngest State of Indian Union. It is gradually emerging as a Technology and Innovation Hub. A strong entrepreneurial tradition and an eye for making a mark globally are the key driving factors for the State. The Hon’ble Chief Minister has outlined the vision to develop the state in the 3 ring structure, with the Core Urban Region up to Outer Ring Road (ORR) being the main catalyst for growth. The area between ORR and RRR will be developed as a semi-urban Region. It will help disperse the growth to Tier 2 cities with clusters for manufacturing, city-centric agriculture, and other add-on zones. These will be the epicentre of manufacturing hubs for global organizations with better connectivity with RRR. Hon’ble CM has also announced the setting up of food processing zones, sports zones, automobile, and organic clusters along with IT, Pharma, and Health industries in Zaheerabad. The government has also announced plans to establish a medical tourism hub on 1,000 acres of land at Shamshabad. The government has also announced plans to develop Warangal into a health and eco-tourism hub and build a network of ORR and radial roads connecting it to the National highways boosting the growth. Such initiatives across districts will trigger rapid growth and create the need for building world-class real estate across the state opening new vistas for the industry. STATECON 2024 is designed to enlighten and equip the member developers of CREDAI on a single platform and brace for development which will not only be restricted to Hyderabad but will find tremendous opportunities across the state of Telangana.”
Speaking on the occasion, Shri Murali Krishna Reddy, Chairman, CREDAI Telangana said, “CREDAI Telangana plays a crucial role in shaping the future of real estate development in the region through advocacy, policy dialogue, and industry collaboration. Under the visionary leadership of our Hon’ble Chief Minister Shri A Revanth Reddy and his vision for 2050, the state is on the path of exponential growth with a multi-dimensional focus on the overall growth and development of the state involving improving the connectivity through an elaborate network of roads and regional rail network, attracting investments for development of dedicated industrial hubs by creating enabling policy framework, developing health infrastructure for present and future, use technology to ensure safety of citizens and set up a robust module for upskilling the youth to grab the opportunities in different industries. During his recent trip to South Korea and the United States of America, Hon’ble CM has garnered an investment of around Rs. 31,500 Crores in varied spheres ranging from ITeS to Data Centre, healthcare, and Manufacturing. Hon’ble Chief Minister pitched Telangana as the future-ready state during his trip, and we are confident that more MNC’s will come to the state. This will ensure a buoyant real estate market all across Telangana. We are hosting STATECON 2024 as a platform to foster growth, innovation, and collaboration amongst the builders across the state, as we brace for the evolving needs of rapid development.”
According to Shri. K. Indrasena Reddy, President-Elect, CREDAI Telangana, “Real Estate activity in any state is an indicator of the development in the region. It contributes 7.3% of the national GDP as of July 2024 and is expected to contribute $1 Trillion to the economy with a 15% contribution to GDP by 2030. This will create massive jobs as this sector is supported by over 250 ancillary industries and is the 2nd highest employment generator after Agriculture. The real estate growth in Telangana has been rapid. This is evident from the continuous growth in the number of registrations and value of properties registered. At CREDAI Telangana, we are actively collaborating with the government to establish a robust framework of rules and guidelines for streamlining the real estate industry. Our efforts are cantered on introducing rigorous measures to detect, penalize, and remove unethical players, while also tackling critical industry challenges to foster a more transparent and efficient market environment. The state government is working with a mission to make Telangana a $ 1 Tn economy in the next 10 years. This will be enabled by the 3 rings of development model. This will help spread the growth of the districts and increase the requirement for world-class office and residential infrastructure. The state’s emphasis on enhancing urban infrastructure and simplifying regulatory processes will further support this expansion, positioning Telangana as a significant global player. These initiatives will positively transform the real estate landscape. STATECON 2024 is being organized to provide a comprehensive platform for dialogue and collaboration. The real estate sector is evolving rapidly, and this conference will be instrumental in shaping the future of our industry.”
Adding to this Shri. G Ajay Kumar, Secretary, CREDAI Telangana said, “Telangana is leading the way in innovation, fuelled by grassroots skilling initiatives, diverse funding models, and a supportive ecosystem that attracts major enterprises and multinational companies. As a prominent hub for pharma and health tech in Asia, with an industry valuation exceeding $86 billion, Telangana is well-positioned to become a global center for IT and medical tourism under the visionary leadership of the Hon’ble Chief Minister. This progress is expected to energize the state’s real estate market. At STATECON 2024, sessions delved into the various dimensions of Telangana’s growth and the emerging opportunities for the real estate sector. Policymakers and industry leaders from across the nation shared their insights to help our member developers craft their strategies for success. We also unveiled the ‘Telangana – Going Global’ report in partnership with CBRE, underscoring the state’s global aspirations and future potential.”
