Hyderabad: All India Majlis-e-Ittehadul Muslimeen (AIMIM) floor leader Akbaruddin Owaisi alleged that the fear of the Hyderabad Disaster Response & Asset Protection Agency (HYDRAA) has hit real estate in the city.
Speaking during the Assembly session, he alleged that people are unable to sell even a small plot due to the fear of HYDRAA.
Real estate in Hyderabad amid fear of HYDRAA
As per real estate experts, although people have a fear of HYDRAA due to the recent demolitions in the city, demand has not dipped.
According to the latest ANAROCK-FICCI Homebuyer Sentiment Survey for H1 2024, demand for premium and luxury homes has soared, with a notable 45 percent of survey respondents preferring homes priced between Rs 90 lakh to Rs 1.5 crore, up from 27 percent in the pre-Covid period.
However, real estate in Hyderabad sees a decline in interest in affordable housing.
‘Do Not Risk Telangana’s Future,’ Akbaruddin Owaisi Cautions Congress Govt
Lashing out at Congress in the Telangana Assembly, Akbaruddin Owaisi accused the state government of following in the footsteps of the Bharatiya Janata Party (BJP) at the Centre. He warned that it was affecting Telangana.
HYDRAA’s demolitions in Hyderabad spark protests
While discussing the state’s outstanding liabilities, Akbaruddin Owaisi responded to Deputy Chief Minister Bhatti Vikramarka’s claim that Telangana’s outstanding debt rose from Rs 75,577 crore in March 2014 to Rs 6,71,751 crore by March 2024.
Hyderabad emerges as fastest growing city amid real estate boom
“The government has been seeking to restrict Telangana’s borrowing capacity under the Fiscal Responsibility and Budget Management (FRBM),” he said.