Hyderabad Sees 25% Decline in Real Estate Registrations

The registration of immovable properties in Hyderabad's real estate sector saw a significant decline of approximately 25% last month compared to the same period last year.

In September 2023, 51,144 properties were registered in and around Hyderabad, whereas this number dropped to 38,464 in September 2024. There was also a slight decrease in property registrations in other registration offices across the state.

Among the offices managing Hyderabad’s booming real estate market, there has been a notable reduction in registrations. However, the Banjara Hills Registration Office reported nearly identical registration numbers for September 2023 and September 2024.

Additionally, the state's revenue from property registrations fell from ₹955 crore in September 2023 to ₹650 crore this year. Realtors attribute this sharp decline to the demolitions carried out by the Hyderabad Disaster Response and Asset Monitoring and Protection Agency (HYDRAA). They are urging the state government to take steps to support the real estate sector while simultaneously safeguarding the lakes.

Naragoni Praveen Kumar, president of the Telangana Realtors Association, noted that the situation has worsened due to HYDRAA's demolitions. He expressed concerns that potential buyers fear purchasing properties that might later be claimed by the government as being within the limits of a waterbody or nala. He emphasised the need for the state government to raise awareness by clearly marking the Full Tank Level (FTL) and buffer zone boundaries.