Harish Rao blames Revanth Reddy for real estate crisis in Telangana

Responding to the suicides of realtors, Harish Rao accused the Congress government of hindering Hyderabad's growth, citing its poor governance as a significant barrier to the city's real estate development. He criticized the administration for disregarding warnings from various survey agencies that had highlighted a decline in the sector over the past year and a half.

Hyderabad: Former Minister and senior BRS MLA T Harish Rao blamed Chief Minister A Revanth Reddy for the deteriorating real estate sector in Telangana, citing a series of suicides linked to financial distress. He pointed to the recent deaths of Kompally real estate businessman Venugopal Reddy and Adibhatla-based Narasimha Goud, stating that the crisis was spreading rapidly, leaving families devastated.

Reacting to the realtors’ suicides, Harish Rao charged the Congress government with stalling Hyderabad’s growth, calling its poor governance a major obstacle to the city’s real estate progress. He criticised the administration for ignoring warnings from multiple survey agencies that have indicated a downturn in the sector over the past year and a half.

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Blaming policy missteps on projects such as HYDRAA demolitions, Musi Riverfront Development, Pharma City cancellation, and Hyderabad Metro line changes, he stated that these decisions have directly impacted investors and businesses. He suggested that Revanth Reddy, who has a background in real estate, to acknowledge the crisis and take corrective action before Telangana’s decade-long progress is reversed.

Harish Rao also demanded immediate financial support for the bereaved family of Narasimha Goud, emphasising the urgent need for government intervention to prevent further tragedies.