At the Credai Hyderabad Property Show 2025 held at Hitex Exhibition Centre, Union Minister for Tourism, Culture, and Development of the Northeast Region G. Kishan Reddy praised the establishment of a permanent Real Estate Regulatory Authority (RERA) and an appellate tribunal in Telangana. He described this move by the state government in 2024 as a landmark step towards transparency, accountability, and consumer protection in the real estate industry.
Strengthening RERA in Telangana
Highlighting the success of RERA implementation in the state, Kishan Reddy noted that Telangana has witnessed registration of nearly 10,000 projects and 4,000 agents under RERA. He said the permanent authority and tribunal will strengthen consumer rights and boost investor confidence, ensuring that homebuyers’ interests remain protected while encouraging responsible growth of the real estate sector.
Shared Responsibility of Real Estate Stakeholders
The minister stressed that safeguarding homebuyers and balancing the aspirations of developers requires a collective effort from developers, regulators, state governments, and the Central government. He called for greater synergy between these stakeholders to build a transparent and sustainable housing ecosystem.
Impact of Government Policies on Housing Growth
Tracing the origins of the real estate reforms, Kishan Reddy recalled that the Real Estate (Regulation and Development) Act, 2016 was introduced to eliminate malpractice, enhance transparency, and give buyers more security. He also credited the Modi government’s economic reforms over the last 11 years for creating a strong base for the real estate sector’s growth.
According to him, schemes like Pradhan Mantri Awas Yojana (PMAY), Swachh Bharat, PM Ujjwala, and Ayushman Bharat have collectively lifted nearly 20 crore people out of poverty, allowing more families to achieve the dream of home ownership.
Affordability Boost for the Middle Class
Kishan Reddy emphasized that measures such as income tax exemption up to ₹12 lakh and reduced home loan interest rates have significantly improved housing affordability for the middle class. He also welcomed Prime Minister Narendra Modi’s decision to reduce GST slabs, saying that it would reduce the burden on citizens by cutting costs on goods and services.
India’s Economic Vision and Urban Growth
The minister expressed confidence in India’s growth story, pointing out that the country has already reached a $4 trillion economy and is targeting $35 trillion by 2047. He identified “Ease of Living” as a critical government objective, stressing that building livable urban spaces requires proactive participation from developers.
Role of CREDAI and the Real Estate Sector
Kishan Reddy praised CREDAI’s contributions in promoting housing development and acting as a bridge between policymakers and developers. He expressed optimism that the real estate industry will play a pivotal role in achieving the vision of a developed India by 2047 by focusing on affordability, quality, and sustainable urban development.
