Telangana's Real Estate Market in Trouble: BJP Leader Calls for Revival
BJP leader Gudur Narayana Reddy urges CM Revanth Reddy to boost the real estate market in Hyderabad and rural Telangana
Real Estate MarketTelanganaBjpCongress GovernmentHyderabadReal Estate NewsAug 06, 2024
The real estate market has been in a slump, with developers and builders struggling to make ends meet. According to Reddy, Hyderabad recorded the most significant decline in new residential launches among India's major cities for the April-June quarter. New launches plummeted from 15,095 residential units in the first quarter of 2024 to just 6,365 units in the second quarter.
The situation is particularly dire in areas like Uppal and Alair, on the Warangal highway, where developers have been unable to sell a single acre of land in the past eight months. This stretch of land was once a hub of activity, but now lies dormant.
The BJP leader pointed out that the present Congress government has not taken any steps to encourage the stakeholders of the real estate market – the developers, the builders, and the buyers. Reddy argued that the government needs to take proactive measures to boost the market and get it back on track.
With the real estate market in such a state of disarray, it is clear that something needs to be done. The BJP is calling on the government to take action and revive the market, and it remains to be seen whether they will heed this call.
Gudur Narayana Reddy is a member of the BJP state executive committee and has been vocal on various issues affecting the state of Telangana.
The Bharatiya Janata Party (BJP) is a major political party in India. The party has been actively involved in various issues affecting the country and has been a vocal critic of the Congress government.
Frequently Asked Questions
What is the current state of the real estate market in Hyderabad?
The real estate market in Hyderabad is facing a severe downturn, with a significant decline in new residential launches.
What is the BJP calling on the government to do?
The BJP is calling on the government to take immediate steps to revive the real estate market in and around Hyderabad and in the rural areas of Telangana.
What has been the impact of the slump on developers and builders?
Developers and builders have been struggling to make ends meet, with many unable to sell their land or properties.
What is the Congress government's response to the crisis?
The Congress government has not taken any steps to encourage the stakeholders of the real estate market, according to the BJP.
Who is Gudur Narayana Reddy?
Gudur Narayana Reddy is a member of the BJP state executive committee and has been vocal on various issues affecting the state of Telangana.
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