Unfair Tactics by Congress Government Trigger Real Estate Slump in Telangana, Claims KTR
Speaking to the Telangana Realtors Forum in Srinagar Colony, KTR accused the Congress government of using HYDRAA to extort money and intimidate builders, resulting in a downturn in the real estate sector.
Real EstateKtrTelanganaCongressHydraaReal Estate MaharashtraNov 05, 2024
Rama Rao accused Revanth Reddy of misusing HYDRAA, the State’s Enforcement and Vigilance wing, as a tool for blackmail and extortion rather than for public benefit. He emphasized that the government’s actions have restricted money flow, adversely affecting Telangana’s economic health. Rama Rao pointed out that ongoing real estate projects are being canceled, and there is a reluctance to start new ones.
He added that HYDRAA has become a source of fear for the business community and common people. “The mere mention of HYDRAA sends shivers down people’s spines. Builders are scared to even name their projects as Lake View, and this has become a nightmare for realtors,” he said.
Rama Rao also criticized the absence of the 21-day clearance guarantee under the TS-bPASS system, which was introduced by the previous BRS government to ensure efficiency and transparency in development projects. Instead of focusing on the State’s development, he alleged that the Chief Minister is preoccupied with sending funds to Delhi and securing his position.
Reflecting on the decade-long rule of the BRS, Rama Rao highlighted the growth and stability experienced by farmers, landowners, and developers. He noted that before 2014, land value in the State was very low, and irrigation was scarce. Under the leadership of K Chandrashekhar Rao, the BRS government not only ensured uninterrupted power supply but also transformed the State’s infrastructure with irrigation projects, leading to significant wealth creation.
Rama Rao reiterated that BRS policies were aimed at development and progress, not blackmail. He contrasted this with the Congress government’s tactics, which he said are destabilizing the real estate sector and eroding investors’ confidence. “People from different parts and professions of the State regret having voted for the Congress due to its anti-people decisions,” he added.
Rama Rao urged the realtors to stand united and assured them that the BRS would hold the Congress accountable for its anti-Telangana policies. He vowed to fight these tactics in the legislature and beyond.
The Bharatiya Rashtra Sena (BRS) is a political party in Telangana, known for its focus on development and progress. Under the leadership of K Chandrashekhar Rao, the BRS has played a significant role in the state's governance, promoting policies that aim to uplift various sectors, including real estate and agriculture.
Frequently Asked Questions
What is HYDRAA?
HYDRAA stands for the Hyderabad Metropolitan Development Authority. It is an enforcement and vigilance wing in Telangana, rebranded by the Congress government.
Who is KT Rama Rao?
KT Rama Rao is the working president of the Bharatiya Rashtra Sena (BRS) and a prominent political figure in Telangana.
What did KT Rama Rao accuse the Congress government of?
KT Rama Rao accused the Congress government of using HYDRAA to extort money and intimidate builders, leading to a downturn in the real estate market in Telangana.
What is the 21-day clearance guarantee under the TS-bPASS system?
The 21-day clearance guarantee under the TS-bPASS system is a mechanism introduced by the BRS government to ensure efficient and transparent development project approvals.
What were the achievements of the BRS government in Telangana?
Under the BRS government, Telangana saw significant improvements in infrastructure, uninterrupted power supply, and the implementation of irrigation projects, leading to wealth creation and stability for farmers, landowners, and developers.
Related News Articles
UP-RERA Cracks Down on PDA: Ensuring Allottees' Rights in Uttar Pradesh
UP-RERA takes stern action against PDA to facilitate registry and possession for allottees
315Work Avenue Expands to 1,00,000 Sq Ft Office Space at International Tech Park Pune
315Work Avenue, a new age coworking space provider, has leased additional office space of 56,000 sq ft at International Tech Park Pune, touching the milestone of 1 lakh sq ft.
Real Estate Developers in Hyderabad Demand Accountability for Approved Projects
Real estate developers in Hyderabad are urging the Telangana government to hold accountable the government agencies that issued approvals before demolishing projects. The issue has sparked debates about corruption, lax enforcement, and the ease of doing b
The 23-Year Journey: How a UP Man Purchased Dawood Ibrahim’s Mumbai Shop
Hemant Jain took a significant risk in 2001 by purchasing a Mumbai shop linked to Dawood Ibrahim. Despite numerous bureaucratic obstacles, he finally managed to register the property after a grueling 23-year battle.
Residential Real Estate Market Sees 46.8% Increase in Under-Construction Properties
This significant rise highlights the robustness of India's residential real estate sector, as developers actively boost supply in both affordable and premium segments.
Knight Frank Wealth Report: Comparing Property Values in Mumbai and Delhi
The Knight Frank Wealth Report reveals a significant difference in property prices between Mumbai and Delhi, with a noticeable decline in Mumbai's real estate market over the past decade.