Hyderabad: Union Minister Kishan Reddy has cemented the transformative role that the real estate sector can play in shaping India’s future by highlighting its potential contribution and role in realising the larger vision of ‘Viksit Bharat @2047’.
He was addressing a packed audience at the Credai Hyderabad Property Show 2025, held at the Hitex Exhibition Center in in Hyderabad, organised by the Confederation of Real Estate Developers Association of India (Credai) on Sunday.
The event centered on the theme ‘Choice is Yours’, reflecting the sector’s commitment to consumer-centric development.
Reddy lauded the emotional significance of home ownership in India, stating, “A house is not just a structure—it becomes a home, a space of emotional bonding and family dreams.” He stressed that fulfilling this aspiration is a shared responsibility of developers, regulators, and both state and central governments.
Highlighting the Central government’s initiatives, Reddy pointed to the Real Estate Regulation and Development Act (RERA), introduced in 2016 to ensure transparency and accountability in the sector. He noted that Telangana has made significant strides by establishing a permanent regulatory system and an appellate tribunal in 2024, with over 10,000 projects and 4,000 agents now registered under RERA.
Reddy credited Prime Minister Narendra Modi’s economic policies over the past 11 years for lifting 20 crore people out of extreme poverty. He cited flagship schemes like PM Awas Yojana, Swachh Bharat, PM Ujjwala, and Ayushman Bharat as instrumental in improving living standards and enabling more citizens to aspire to home ownership.
“The rise of the middle class is directly linked to these reforms,” Reddy said. “With income tax exemptions up to Rs 12 lakh and reduced RBI interest rates, families now have more disposable income to invest in homes.” He added that upcoming reductions in GST slabs, as indicated by the Prime Minister, will further ease financial burdens on the common man.
India’s current $4 trillion economy, Reddy noted, is on track to reach $35 trillion by 2047, aligning with the vision of ‘Viksit Bharat@2047’. He emphasised that ‘Ease of Living’ is a central goal of the Modi government, and the real estate sector plays a vital role in achieving it.
Commending Credai’s efforts in promoting urban development and consumer trust, the Union Minister said, “Let us continue working together in this spirit to build a developed India by 2047. The real estate sector is not just about buildings—it’s about building lives.”
