VISAKHAPATNAM: Minister of Municipal Government and Urban Development A Suresh said Andhra Pradesh, which leads in ease of doing business, has further strengthened it to ensure seamless integration of all the processing activity by removing bottlenecks in order to give authorizations for the real estate sector in an expedited mode.
Opening the fourth two-day edition of New India Summit – 2022 organized by the Confederation of Real Estate Developers Associations of India (CREDAI) here on Friday, he said the YSRC government is now focusing on affordable housing for all. About 30 lakh houses will be built under the program and construction of 15 lakh houses has already started in Jagananna settlements.
The government plans to develop smart cities in all 26 districts of the state and the focus is on tier two, three and four cities and towns, he said. ‘City happening.’ Vizag is being developed as a financial, administrative and industrial center, he said.
No fewer than 500 delegates from across the country gathered to discuss opportunities and challenges in Tier 2, 3 and 4 cities and prepare an action plan to address the challenges. Speaking to the media, CREDAI National Chairman Harsh Vardhan Patodia said that non-metro cities will be the new real estate revolution to achieve $5 trillion economy.
Covid-19 has impacted businesses and economies in every region of the world. Geography is irrelevant in the post-Covid era due to flexible working style. All states are trying to decongest major cities and develop Tier II, III, and IV cities. The work from home and flexible approach, improvement in the logistics sector and low interest rates on housing loans will certainly boost construction activity, he said.
CREDAI’s National Vice President, G Ram Reddy, said the real estate market is growing rapidly in South India.
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