Construction Sector Grows 11.97% in Telangana, Says Sridhar Babu
Sector contributes over Rs 80,000 crore to the state economy
Hyderabad: IT and industries minister Duddilla Sridhar Babu on Sunday said the construction sector in Telangana registered a robust growth rate of 11.97 per cent in the fiscal year 2024-25, contributing more than Rs 80,000 crore to the state’s economy.
Speaking at the 15th Naredco Telangana Property Show here on Sunday, the minister said the combined output of the real estate and professional services sectors saw a growth rate of 15.4 per cent. Together, the real estate and construction sectors now account for 24.9 per cent of the state’s services GDP, with construction alone pumping in over Rs 80,000 crore.
Sridhar Babu pointed to a marked increase in housing registrations in key districts such as Hyderabad, Rangareddy, and Medchal-Malkajgiri during September. A total of 6,612 housing units valued at Rs 4,804 crore were registered, compared to 4,903 units worth Rs 2,820 crore in the same month last year. This indicated a 35 per cent rise in volume and a striking 70 per cent surge in transaction value.
“These statistics dispel any notion that Telangana’s real estate sector is facing a slowdown,” the minister asserted. He also reported that registrations of properties valued above Rs 1 crore surged by 151 per cent, representing 53 per cent of the total transaction value in September.
Noting the real estate’s role as India’s second-largest employment-generating sector after agriculture, Sridhar Babu emphasized the need to raise India’s real estate GDP contribution, currently at 6-8 per cent, closer to that of developed countries and China, where it ranges between 10-25 per cent.
The minister outlined several major infrastructure projects aimed at reshaping Telangana’s economic and urban landscape, including Elevated Corridors, Metro Rail Phase-II, Bharat Future City, Musi Riverfront Beautification, and the Regional Ring Road.
Sridhar Babu announced plans to complete zonal planning for Bharat Future City by December and to launch the groundbreaking for a 200-acre AI City within two to three months, which will be developed to international standards.
The event was attended by Naredco officials, including Vijayasai Make, Kali Prasad Damerla, Dr. Lion Kiran, K. Sridhar Reddy, and R. Venkateshwara Rao.