KTR criticises CM Revanth Reddy over 42% drop in Hyderabad housing market

HYDERABAD: BRS Working President K Taraka Rama Rao criticised Telangana Chief Minister A Revanth Reddy, holding him responsible for a significant downturn in Hyderabad's housing market.

In a tweet on Wednesday, KTR pointed out a 42% drop in the real estate sector during the third quarter of the year, blaming it on the Chief Minister's "disastrous administration."

He highlighted the imposition of RR Tax and the aggressive demolition drives initiated under Reddy's leadership, claiming these measures had driven investors away and left Hyderabad residents struggling.

Referring to Hyderabad as "India’s crown jewel," KTR expressed concern that the city's economic standing was being jeopardised. He stated that Hyderabad, once a thriving metropolis, was now "mired in chaos" due to the current government's policies and warned that the people of the city were "resisting the recklessness" of the administration.