Following an episode of slow growth in the IT sector, poor hikes and the scare created by demolitions by government agency HYDRAA, real-estate developers in Hyderabad now see green shoots. “The slow growth in the information technology sector, poor hiring by the IT companies and increase in interest rates have impacted growth. Prospective buyers have deferred their purchase decisions,” said Vijaya Sai Meka, president of NAREDCO (National Real Estate Development Council - Telangana Chapter). HYDRAA demolitionsThe association admits that demolitions by HYDRAA (Hyderabad Disaster Response and Asset Protection Agency) did impact investor sentiment. Vijaya Sai said the members of the association followed all rules and regulations.

Source: The Hindu October 22, 2024 02:27 UTC