City’s IT sector offers big opportunity to builders: CM

Chief minister N Kiran Kumar Reddy, on Saturday, stressed the need for affordable housing.

After inaugurating the Andhra Pradesh Real Estate Developers Association (APREDA) Property Show-2012 at Hitex here, he said that the Congress government has been constructing around 6-7 lakh houses for the poor every year in the state.

“Since 2004, we have constructed around 50 lakh houses and another 19 lakh are under progress while there are plans for another 10 lakh houses in the next 2-3 years,” he said.

On the vast opportunity in front of constructors, he said: “Hyderabad has got 50,000 acres notified by the Government of India as Information Technology Investment region. This is the biggest opportunity for constructors and we expect the exports from IT to grow from 50,000 crore to 2.4 lakh crore in the next 4-5 years.”

Union minister of state for tourism K Chiranjeevi said studies suggested Hyderabad as one of the most important destinations to visit along with Amsterdam and San Francisco.

Minister for housing Uttam Kumar, minister for municipal administration  M Maheedhar Reddy, MLA Bikshapati Yadav, MLC Rangareddy, NAREDCO president Navin Raheja were present.