Hyderabad: Telangana Industries and IT Minister Duddilla Sridhar Babu has said that the state government will extend all possible support to the construction sector, which he described as the backbone of the state’s development.
Addressing the Youth Conference organized by the Greater East Zone Builders Association (GEBA) at Hotel Jubilee Park, Nagole X Roads, the Minister highlighted the critical role played by the real estate and construction industries in the state’s economic growth.
56% growth in commercial space
“Hyderabad recorded a 56% growth in commercial space absorption last year, the highest in the country. In the retail sector alone, 1.8 million square feet was leased out. These are not just numbers—they reflect the growing confidence of investors in Telangana,” Sridhar Babu said.
He pointed out that the construction and real estate sectors together contribute nearly 30% to the state’s Gross Value Added (GVA). “This sector provides employment to around 10 lakh people and supports allied industries such as steel, cement, and interiors,” he noted.
The Minister stressed that the growth of real estate has a cascading impact on several other sectors and plays a pivotal role in shaping the state’s economy.
“Since 2014, Telangana’s real estate sector has been expanding rapidly. At present, 9,679 projects and 4,252 agents are registered with RERA,” he informed.
He also emphasized the need to adopt modern and sustainable construction practices. “Builders, especially the younger generation, must take the lead in using new technologies and eco-friendly materials. Only then can we reduce construction costs and deliver better value to consumers,” Sridhar Babu said.
Foundation stones of Telangana
He urged young builders to see their work as more than just structures. “The bricks you lay and the buildings you construct are not just physical entities—they are the foundation stones of Telangana’s future,” he told the gathering.
The event was attended by MLA Mal Reddy Rangareddy and GEBA Youth Wing representatives Vikram Kumar, Meghana, Akshay, Mahesh, and others.