The Congress regime has seemed to be a nightmare for the real estate sector. A recent report by leading real estate consultancy firm Anarock has concluded that house sales in Hyderabad have fallen by 49 percent, making Hyderabad the lowest among all metro cities in the country.
The government’s policies, unclear ideas, controversial Hydra-like decisions, and announcements that broke the hearts of the poor have been believed to bring down the real estate industry.
The Revanth Reddy government, on the other hand,claimed, “We have brought in lakhs of crores of investments. New companies are coming in widely. Telangana is progressing in all sectors in an unimaginable way. Crores of investments, lakhs of jobs, and extensive business opportunities in the name of Future City.”
If the real estate sector was in a similar crisis during 2009-12, after formation of Telangana state the sector was brought to hype from the verge of collapse and it took it to the point where an acre could be sold for Rs 100 crores with Hyderabad as its center.
With the real estate trend that has been centered in Hyderabad in the past ten years, foreign companies have also come forward with investments worth lakhs of crores of rupees. In this way, international companies have made Hyderabad a platform to open their corporate offices like no other metro city in the country.
Anarock, a leading construction research firm, has revealed that the real estate sector is at a moderate level across the country. In Hyderabad, however, it has concluded that sales will fall by 49 percent. While preparing a report on sales in the first quarter, it has been stated that sales are likely to fall by 9 thousand units compared to last year.
It has been revealed that sales will fall from 19660 units to 10 thousand units in the first quarter of last year. It is disturbing that sales are expected to fall worse in Hyderabad than in other metro cities. The report released by PropEquity also concluded that sales have fallen by 47 percent, making the Hyderabad market worse than all metro cities.