"real-estate"

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

Once, banks would line up to give loans to builders, but now, due to 14 months of Congress rule, they are unable to get loans, says the BRS leader

Farmers, weavers, auto drivers, builders being pushed to commit suicide due to inefficient policies, says BRS leader

Hyderabad real estate, which exhibited a rare resilience while withstanding the stress and strain of factors such as global financial crisis and Covid pandemic that left many major cities reeling, now seems to be stumbling badly

The data reveals a decline in income by approximately 15 percent compared to 2023 and 2022. This year, 43,497 registrations were recorded, down from 61,363 in 2023, showing a deficit of 17,866. In contrast, the composite Adilabad district saw an increase in registrations in 2023, surpassing the 54,425 registrations of 2022.

The move aims to generate additional revenue to meet the expenditure from election guarantees, which have drawn criticism due to non-fulfillment. But it has its apprehensions on revising registration values. The dilemma stems from concerns about the overall impact on revenue collection.

According to Knight Frank Research and Telangana's Registration and Stamps Department, property registrations in Hyderabad have been on a slow decline for most of the year

Under the BRS government led by K. Chandrashekar Rao and K.T. Rama Rao , the city has achieved significant strides across multiple sectors, becoming a key player in the nation’s urban transformation.

The demolition of houses was not a solution, and the easiest way for the government was to construct retaining walls along the Musi, he said.

The report indicated that West Hyderabad accounted for a significant portion of total sales, holding 54% of the market, although demand declined even in these prominent areas. North, South, and East Hyderabad followed with 28%, 13%, and 4% of the market share, respectively. All regions experienced decreases in sales, ranging from 3% to 26%.

Of the Rs 26,000 crore needed for constructing Amaravati Phase-1, the World Bank and Asian Development Bank (ADB) came forward to lend Rs 15,000 crore

Sales of properties priced at Rs 4 crore and above dropped sharply to 200 units in Q3 2024, down from 630 in the same period last year - a staggering 68 per cent decline.

Post COVID there was a rise in farm plots sales and most of these were coming up in the conservation zones.

Typically, the Dasara season is viewed as an auspicious time for buyers, builders, and developers, with a notable increase in inquiries and bookings for new properties, including flats and plots. However, this season, the real estate sector, particularly in Hyderabad, has seen a lack of enthusiasm and activity.

On the social media platform X, he blamed the 42% decline in the housing market on the policies and actions of Chief Minister A Revanth Reddy’s administration. He highlighted a significant 42% drop in Hyderabad’s housing market within just the third quarter of the year.

A few managements are even being forced to issue public statements stating that their properties were not in such encroached or illegal areas

According to PropTiger.com's latest report, "Real Insight Residential – April-June 2024," the city experienced an overwhelming 58 per cent drop in new housing units, making it the biggest loser among the top eight cities.

The State government also issued orders appointing former IAS officer Chitra Ramachandran and Advocate Pradeep Kumar Reddy Palle as Members of the Telangana Real Estate Appellate Tribunal.

They were identified as Guguloth Chandrashekhar (23), a resident of Kondapur in Dholmitta mandal, Agulla Srinivas (36) and Kadari Jalandhar (34).

Illegal layouts cause losses to the government as the developers evade various taxes.