Land registrations drop sharply amidst HYDRAA demolition concerns

HYDERABAD: Land and property registrations in Telangana have seen a significant decline, with officials attributing the drop to growing fears among the public about the ongoing demolition drives by the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA).

Many potential buyers are reportedly hesitant to purchase land or plots due to uncertainty surrounding the legality of properties and potential future demolitions.

According to official data, registration income dropped by 30% in September alone compared to the same period last year. In September of the previous year, there were approximately one lakh transactions generating Rs 955 crore in revenue. However, in September this year, the number of transactions fell to 80,000, bringing in only Rs 650 crore.

This decline in property transactions has been significant over the past two months, as many people have been reluctant to invest in land or plots due to fears of possible demolition orders. The ongoing demolition of illegal structures has sparked anxiety, with potential buyers cautious about the legal status of properties. This apprehension has had a direct impact on the real estate market, causing a sharp drop in registrations and government revenue.

Real estate analysts believe that the current trend is likely to continue if there is no clear communication from the authorities about property regulations and demolition guidelines. The uncertainty is affecting both buyers and developers, contributing to a stagnant property market in the region.