‘Hyd realty booming, T to grab 3rd spot by year end’

Hyderabad : Telangana is on the path of becoming the third leading state, only behind Maharashtra and Uttar Pradesh in terms of generating the highest annual revenue from stamps and registration, which shows the health and buoyancy of the real estate industry, said Somesh Kumar, chief secretary of Telangana, at the Times PropertyHyderabad Property Expo 2022, which began on Saturday.

“If we go by the size of our state and the population, we should have been somewhere in the 8th or 11th position but here we are showing the bigger states that a young state of ours is in the league of heading forward. Currently, we are in the fifth position in terms of revenues from stamps and registration but by this year’s end we will be in the third spot,” he added.

He highlighted that the state’s focus on sustainability and planned development all along has ensured that it has beat its competitors in being the leading city people wish to live in. “The state has taken several proactive steps in terms of having the triple ring-road, simplifying regi-stration process, making mutation documents easily available and making gram panchayat lands under TSbPASS which has made it easy for the growth of the industry,” the chief secretary said, while speaking to various builders present at the event. The Expo, which will continue till Sunday at HITEX Exhibition ground, will bring together over 40 builders under one roof, including the likes of Aparna Constructions, Jayabheri group and Rajapushpa properties. This will allow home buyers to check out all op-tions before narrowing down on their prospective home. The first day of the Expo saw overwhelming numbers turn up at the expo to gauge their options across a range of offerings like villas, apartments in various budgets, price points and amenities and geographies.