(Image source from: Thehansindia.com)

The number of real estate registrations in the state capital region declined by around 25% last month compared to the previous year. While 51,144 properties were registered in and around Hyderabad in September 2023, this number dropped to 38,464 in September 2024. Additionally, there was a slight decrease in the number of houses registered in other parts of the state. The registration offices handling Hyderabad's rapidly expanding real estate market experienced a sharp decline in registrations. However, the Banjara Hills registration office registered nearly the same number of properties in September 2023 and 2024.

The state's revenue from registrations decreased from Rs 955 crore in September 2023 to Rs 650 crore this September. Realtors attribute this sharp decline to the demolitions carried out by the Hyderabad Disaster Response and Asset Monitoring and Protection Agency (HYDRAA). They are demanding that the state government take steps to support the real estate sector while also protecting lakes. The president of the Telangana Realtors Association, Naragoni Praveen Kumar, claimed that the real estate sector has further declined due to the HYDRA demolitions.

People are worried that if they purchase a property, the government might later declare it is within the boundaries of a water body or a stream. The state government should raise awareness by clearly defining and marking the Full Tank Level (FTL) and the surrounding buffer zone areas.