HYDRA Demolition Drive Cripples Hyderabad Real Estate Market?
KTR suggested that while there might be an artificial real estate boom under this initiative, ordinary people are hesitant to engage in real estate transactions due to the current climate of uncertainty, thereby hampering revenue growth.
Hyderabad: In Hyderabad, the real estate market has been severely impacted by a recent demolition campaign targeting illegal constructions. Telangana’s ruling party, BRS (Bharat Rashtra Samithi) working president K.T. Rama Rao (KTR), sharply criticized Chief Minister A. Revanth Reddy, accusing him of failing to protect Hyderabad, the state’s economic engine.
KTR stated that within just two months, the Hyderabad real estate sector has come to a standstill, with a steep drop in property registrations and a significant decline in state revenue. He alleged that CM Revanth Reddy’s approach of demolishing buildings under the guise of “HyDRA” (a local initiative targeting illegal structures) has created fear among the general public and stifled economic activity in the city.
The BRS leader further questioned the CM’s economic planning skills, particularly in the context of revenue generation. KTR argued that if the CM cannot create new revenue sources, he should at least safeguard the existing ones. He also expressed doubts about the government’s “Future City” development project, calling it a biased plan benefiting the CM’s close associates rather than the broader public.
KTR suggested that while there might be an artificial real estate boom under this initiative, ordinary people are hesitant to engage in real estate transactions due to the current climate of uncertainty, thereby hampering revenue growth.
This conflict comes amid growing concerns about Telangana’s overall economic health, with KTR pointing to the CM’s failed policies as a major contributing factor.
