The Congress government’s Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) initiative has triggered a noticeable impact on land and property sales across Telangana. As the government carried out HYDRAA-style demolitions in various districts, the real estate market experienced a slowdown, resulting in a decline in property registration transactions statewide. This dip persisted for roughly two months, with September statistics highlighting the extent of the downturn.
Compared to September of last year, registration income for this September dropped by over 30%. The total number of transactions fell by more than 20,000. Hyderabad and surrounding districts have been particularly affected.
According to data from the Department of Registrations, this September’s revenue was Rs. 300 crore less than that of the same period last year. In September 2023, there were 99,528 registration transactions, generating Rs. 955.12 crores for the government.
However, in September 2024, only 80,115 transactions were recorded, bringing in just Rs. 650.80 crores. The decline is particularly visible in the areas surrounding Hyderabad. For instance, Rangareddy district saw 16,687 transactions this September, compared to 21,407 last year—marking a drop of around 5,000. Similarly, Medchal and Patancheru registration districts witnessed reductions of approximately 4,000 transactions each.
Despite this drop in transactions during the latter months, the overall financial performance for the first half of the fiscal year remained relatively stable. In the first six months of last year, 10.04 lakh registrations were completed, generating Rs. 7,229.88 crores.
This year, the government earned Rs. 7,291.28 crores from 9.19 lakh transactions in the same period. The slight increase of Rs. 61.4 crores is attributed to higher property rates and robust registrations during the first four months of the fiscal year. However, the recent downward trend in transactions has raised concerns.