Slump in market drives realtor to end life in Adibatla on Hyderabad outskirts

Due to the downfall in real estate activity for the last few months, Narsimha Goud was without any work and to meet expenses, he borrowed Rs 15 lakh from some persons

Hyderabad: A real estate agent died by suicide at his house in Adibatla of Ranga Reddy district due to financial problems late on Sunday.

The man, Narsimha Goud (45), a resident of Mangalapally village in Adibatla municipality, was into real estate business. Due to the downfall in real estate activity for the last few months, Goud was without any work and to meet expenses, he borrowed Rs 15 lakh from some persons.

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“The persons who lent the money to Goud were asking him to return it. With no means to arrange and return the amount, Narsimha slipped into depression. On Sunday night, he hanged himself from the ceiling fan in the house,” said Adibatla police. A case was registered.