Top executives of State Bank of India at the Mega Property Expo in Hyderabad on Friday. | Photo Credit: Special Arrangements
The three-day mega property expo by the State Bank of India’s Hyderabad Circle began on Friday (December 20) at the Hitex Exhibition Hall in Madhpur. The expo will conclude on December 22.
SBI Hyderabad Circle Chief General Manager Rajesh Kumar inaugurated the expo, which brings together top builders on one platform. This is the fourth installment of the annual expo.
In his inaugural address Mr. Rajesh Kumar said that SBI has been given 4 awardsth The most trusted bank globally and will soon cross the 8 trillion mark in home loans. Government’s focus on development of RRR, tourism and other industries paves the way for increase in demand in housing sector.
Manju Sharma, CGM REHBU, Corporate Center Mumbai, said real estate is a game changer in terms of contribution to GDP. Currently, the real estate growth rate is 7%, and by 2047, it is expected to reach 17% at a CAGR of 10%. SBI is achieving 14% YoY growth.
CREDAI Chairman Rajashekhar Reddy, in his address, mentioned that between November 2023 and December 2024, Hyderabad attracted 115 companies investing and created more than 51,000 jobs.
IGBC Vice-President Shekhar Reddy said the increase in rates of land and construction materials and reduction in interest rates by banks would encourage the development of the affordable housing sector.
Prakash Chandra Baror, General Manager NW-II, Hyderabad Circle Ravi Kumar Verma and R. Balanand, DGM, REHBU, Hyderabad Circle, were present.
published – Dec 21, 2024 at 01:05 pm IST