Posts Tagged ‘CREDAI’

Real Estate Hopes A Good Year

Thursday, December 30th, 2010

Though the tension is palpable among all sections of people, but particularly those settled in Hyderabad and surrounding areas from the Seema-Andhra region, on the fallout of the Sri krishna committee report, realtors are strangely optimistic about enjoying good sales in 2011.

The Confederation of Real Estate Developers’ Association of India (CREDAI) doesn’t see any drastic change in real estate prices in the New Year.

Hyderabad and surrounding areas have seen a major real estate boom during the past few years though immediately after the December 9, 2009 announcement on Telangana by the Union home minister, Mr P. Chidambaram, the environment had been vitiated somewhat.

The IT sector too has reported good growth and scores of IT companies, including MNCs, are back recruiting on campuses, indicating that the companies no longer fear the fallout of the Telangana agitation.

The Chief Minister, Mr N. Kiran Kumar Reddy has assured industries and entrepreneurs that the government will provide security and a healthy environment for investments.

Source: deccanchronicle.com

Many Commercial Plots in Major Cities Lying Vacant

Wednesday, December 29th, 2010

Residential projects have attracted huge investments across the country in recent years, but many commercial plots in major cities are lying vacant due to a dearth of buyer interest. According to Confederation of Real Estate Developers Association of India (CREDAI), many areas in Hyderabad, Bangalore and Gurgaon are lying vacant in commercial spaces.

While 12 million square feet is lying idle in Chennai, it will be more across the country. Noting that the real estate industry saw a slowdown after the sub-prime crisis in the US, CREDAI National Vice-President Prakash Challa,charged the Centre with not taking any steps to revive the industry. If they had taken steps immediately after the crash of the US market, the sector would not have faced this much of a problem.

Source: Indianexpress.com