Hyderabad: Hydra to Halt Demolitions Amid Real Estate Crisis and Builder Suicides?
"Real estate crisis in Hyderabad intensifies as builder suicides spark outrage. Will Hydra halt demolitions in the city to address growing concerns?"
Hyderabad: Former minister and BRS party MLA, Harish Rao, has sharply criticized Hydra officials for their actions, which he claims have driven small builders to financial ruin, leading to suicides. He has called on Chief Minister Revanth Reddy to shut down Hydra immediately.
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BRS Rule Benefited Telangana’s Real Estate Sector
Speaking to the media after visiting the family of builder Venugopal Reddy, Rao emphasized that during the 10 years of BRS rule, Hyderabad and Telangana had seen rapid growth in the construction sector, benefiting lakhs of people. He added that the real estate market had been thriving under BRS leadership, but the Congress government’s actions have now caused the sector to collapse.
Hydra’s Impact on Apartment Sales and Builder Debt
Rao further pointed out that apartments are no longer selling because of Hydra, with potential buyers fearful of the ongoing situation. He also mentioned that builders are struggling to repay their debts and are unable to secure bank loans, exacerbating their financial problems.
Calls for Immediate Action by Chief Minister
He accused the Chief Minister of putting unnecessary pressure on the people with Hydra’s operations and urged him to shut it down immediately to bring stability back to the sector.
