Claims of real estate slowdown are ‘Goebbels-style propaganda’: Telangana Minister
Hyderabad, July 25 (TNT): Telangana Revenue, Housing and Information & Public Relations Minister Ponguleti Srinivasa Reddy on Saturday dismissed allegations that the real estate sector, particularly in Hyderabad, was witnessing a slowdown, describing them as “Goebbels-style propaganda” aimed at misleading the public.
Addressing a programme here, the Minister said there was no truth in claims that the sector had collapsed and asserted that official data from the Stamps and Registration Department reflected sustained growth in the real estate market.
He said the sector had registered 15-20 per cent growth during the last two-and-a-half years under the present government, while flat sales had increased by nearly 40 per cent. The increase in property registrations, he said, was clear evidence of the sector’s expansion.
Alleging that certain vested interests were deliberately spreading misinformation to tarnish the government’s image, Srinivasa Reddy appealed to the public not to be misled by such campaigns.
Recalling Hyderabad’s development between 2004 and 2014, he said major infrastructure projects such as the Outer Ring Road, the international airport and the expansion of the IT sector had laid the foundation for the city’s emergence as a global investment destination.
He said Hyderabad continued to attract domestic and international investors and noted that several industrialists had expressed interest in investing in the city during the recent World Economic Forum meeting at Davos attended by Chief Minister A. Revanth Reddy.
Highlighting the government’s infrastructure plans, the Minister said tenders for the first phase of the ₹7,000-crore Musi River Beautification Project, covering 28 km, would be invited within the next seven to 10 days.
He said the second phase would include the expansion of the Hyderabad Metro Rail network by 76 km, including connectivity to the Old City, at an estimated cost of ₹24,000 crore. Proposals were also being prepared for radial roads linking the proposed Regional Ring Road (RRR) with the Outer Ring Road (ORR).
Appealing to the real estate industry to partner in Hyderabad’s growth, the Minister urged developers to complete projects on schedule and maintain the confidence of homebuyers.
He said the government had introduced the Bhu Bharati Act to provide greater security in land ownership and added that minor software-related issues in the system would be resolved within 15 to 20 days.
On housing, Srinivasa Reddy said the government was giving equal priority to affordable housing for economically weaker sections. Under the Indiramma Housing Scheme, one lakh houses would be sanctioned in the first phase, with additional phases to follow.
He also said the government was working to acquire two to three lakh square feet of land for housing projects and would examine the real estate industry’s request for a fast-track approval mechanism.
Khammam MP Raghurama Reddy and other dignitaries attended the programme.
TNT TS
