Top State Bank of India officials at the Mega Property Expo in Hyderabad on Friday.
| Photo Credit: Special Arrangement
The three-day mega property expo by the Hyderabad circle of State Bank of India began here at Hitex Exhibition Hall in Madhapur on Friday (December 20). The expo will conclude on December 22.
SBI Hyderabad circle chief general manager Rajesh Kumar inaugurated the expo, which brings together a host of top builders on one platform. This is the fourth instalment of the annual expo.
In his inaugural address, Mr. Rajesh Kumar said SBI has been awarded the 4th most trustworthy bank globally and would shortly surpass the 8 trillion mark in home loans. The government’s focus on developing RRR, tourism and other industries paves the way for increase in demand for the housing sector.
Manju Sharma, CGM REHBU, Corporate Centre Mumbai, said real estate is a game changer in terms of contribution to GDP. Currently, real estate growth rate is 7%, and by 2047, it is expected to reach 17% at a CAGR of 10%. SBI is achieving 14% growth yearly.
CREDAI president Rajasekhar Reddy, in his address, mentioned that Hyderabad attracts investments by 115 companies and generated employment for over 51,000 people between November 2023 and December 2024.
Vice-president of IGBC Shekar Reddy said the increase in rates for land and construction material and reduction of interest rates by banks would provide an impetus for the growth of affordable housing segment.
Prakash Chandra Baror, General Manager NW-II, Ravi Kumar Verma of Hyderabad circle and R. Balanand, DGM, REHBU, Hyderabad circle, were present.
Published – December 21, 2024 01:05 am IST
