Telangana Real Estate in Crisis: Builders Struggling Like Never Before, Experts Warn
Why is the real estate industry in bad shape this year compared to last year if the state is in autopilot mode,” BRS MLA KT Rama Rao asked while addressing a gathering of the Telangana Realtors Forum.
Hyderabad: “Why is the real estate industry in bad shape this year compared to last year if the state is in autopilot mode,” BRS MLA KT Rama Rao asked while addressing a gathering of the Telangana Realtors Forum.
KTR voiced his opinions on the struggles facing the real estate sector under the Congress-led government. He highlighted how Telangana, during BRS’s tenure, had transformed into a hub of development, emphasizing the contrast with the current situation, which he said has become challenging for real estate developers and property owners.
Reflecting on Telangana’s past, KTR recalled the region’s historical land struggles, where the very concept of Telangana’s potential was often underestimated. “Back then, people were sceptical, spreading rumours that Telangana’s land values would plummet post-statehood.
But the reality is different today, with an acre of land now valued at around Rs 15 lakh even in the remotest areas,” he said and credited BRS supremo KCR for the progress. The state’s agricultural community, too, has found stability, KTR said, with assured irrigation and 24-hour electricity.
“Every farmer today is secure and hopeful, thanks to KCR’s leadership. However, Congress, which now chants change, has only disrupted Telangana’s progress,” he said. In sharp contrast to KCR’s policies, KTR accused the current government of making real estate a risky venture.
“Even for permits, developers are struggling,” he said, citing the plight of a leading builder who recently approached him, expressing fears for small builders if the situation doesn’t improve within a year. “Builders have invested beyond their capacity. Yet properties aren’t selling because this government has killed people’s purchasing power,” KTR said.
He also criticized the Congress’s HYDRAA (Hyderabad Disaster Response and Management Authority) initiative, calling it a tool for “mindless demolitions” and “blackmail.” He said that obtaining permissions for projects has become an ordeal with developers hesitant to even use terms like ‘Lake View’ due to bureaucratic hurdles.
Questioning the state’s commitment to real estate, KTR urged the Telangana Realtors Forum to seek legal opinion on the challenges brought by the Congress government. He criticized decisions like cancelling registrations in the HMDA zone, which he said harms the middle class.
KTR cited recent controversies, such as registrations conducted in FTL zones, calling it an example of governmental disarray. “One hand of the government doesn’t know what the other is doing,” he remarked and encouraged real estate agents to question the government’s decisions publicly.
In his closing remarks, KTR supported the real estate community and pledged the BRS’s commitment to advocate for builders’ rights in the Assembly. He promised to continue their fight against unjust policies, especially HYDRAA’s demolitions which he said have disrupted lives.
“If the government changes its ways and prioritizes public welfare, we will cooperate as a constructive opposition. But if they continue to ignore public interest, the BRS will keep up the fight as the main opposition,” he concluded, urging builders to strengthen their voice for change.
