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Hyderabad: Highlighting growing discontent among Hyderabad’s residents who have been opposing the State administration’s policies and actions, BRS working president KT Rama Rao on Wednesday expressed his dismay over the significant decline in Hyderabad’s real estate market.
Taking to social media platform X, he attributed the 42% crash in the housing market to the policies and actions of Chief Minister A Revanth Reddy’s administration. He pointed out a dramatic 42% drop in Hyderabad’s housing market in just the third quarter of the year. He described the situation as a transition from a booming metropolis to a city in crisis.
He blamed Revanth Reddy’s administration for the decline, citing the implementation of the “RR Tax” and aggressive demolition drives as primary factors. He also accused the administration of reckless governance that has driven investors away and caused suffering for the people of Hyderabad. According to Rao, the current policies have led to a significant withdrawal of investor interest, further exacerbating the economic challenges faced by the city’s residents. He emphasized that what was once India’s crown jewel is now mired in chaos due to poor administrative decisions.
