Budget shows potential to drive economic growth: CREDAI Hyderabad

CREDAI President V. Rajashekhar Reddy and General Secretary B. Jagannath Rao along with the organising committee address the media ahead of the CREDAI Hyderabad Property Show, in Hyderabad on Friday.
| Photo Credit: ANI

CREDAI Hyderabad, an apex body of private real estate developers in India, commended the Telangana budget 2024-25 for its potential to drive economic growth and infrastructure development, enhancing Hyderabad’s stature and revitalising the real estate sector.

“The allocation of ₹1,525 crore for the Regional Ring Road (RRR) will improve connectivity, reduce traffic congestion, and open up new development opportunities. The ₹1,500 crore designated for the cleaning of the Musi river and the development of a Musi corridor underscore a strong commitment to environmental sustainability, tourism, and job creation. Furthermore, the ₹3,385 crore set aside for Metro Water Works will ensure a sustainable water supply crucial for the city’s growing population. The emphasis on skill development through the ‘Telangana Skill University’ will equip the youth for emerging job opportunities,” said V. Rajashekhar Reddy, president of CREDAI Hyderabad.

Jagannath Rao, secretary of CREDAI Hyderabad, said: “The ₹500 crore allocated for the Hyderabad Metro Rail Project extension and the Old City Metro will significantly enhance public transportation and intra-city connectivity, supporting the organised real estate sector. The ₹50-crore investment in the Multi-Modal Transport System (MMTS) will improve commuting options and strengthen connectivity. The government’s initiative to secure land transfer for road widening and elevated corridors in the Secunderabad Cantonment area will boost connectivity and facilitate development in the city’s eastern and northern parts. Additionally, the ₹5,790-crore budget for Roads and Buildings will promote growth.”