Hydra Effect Hits CM Revanth Reddy’s Home District of Palamuru
The ripple effect of the Hydra demolitions in Hyderabad and Ranga Reddy districts has extended its impact to the neighboring Mahbubnagar district, also known as Palamuru, which is the home district of Telangana Chief Minister, Revanth Reddy.
Hyderabad: The ripple effect of the Hydra demolitions in Hyderabad and Ranga Reddy districts has extended its impact to the neighboring Mahbubnagar district, also known as Palamuru, which is the home district of Telangana Chief Minister, Revanth Reddy.
The Hydra operation, aimed at clearing unauthorized constructions in Hyderabad and Ranga Reddy districts, has had a noticeable influence on the real estate market in Mahbubnagar. As a result, property registrations in the district saw a significant decline in August.
According to official data, Mahbubnagar’s 12 sub-registrar offices recorded 7,315 property registrations in August 2024, generating ₹19.31 crore in revenue for the government. In contrast, the same period last year witnessed 9,007 registrations, contributing ₹22.20 crore to the exchequer. This drop highlights the broader economic consequences of the ongoing demolition drives.
The demolition efforts have created uncertainty in the real estate sector, causing potential buyers and investors to hesitate, even in nearby districts like Mahbubnagar. With Hyderabad’s growth traditionally boosting the surrounding areas, the Hydra effect has now caused ripples that may slow down the momentum of real estate transactions in the entire region.
As Mahbubnagar grapples with this downturn, it remains to be seen how the district will recover from the impact of the Hydra operation.
