It looks like Hyderabad is losing its charm these days, particularly in terms of the real estate.
The much-talked-about and the much-hyped-about the city is heading to be no more a darling of the settlers, if one goes by the real estate trends these days.
Despite the ruling TRS, its successor-in waiting, KCR talking big about this city, people are not favoring this place, particularly after the second victory of the TRS.
While the economic slowdown is said to be one of the reasons for this fall, it also appears that the cash rich Andhra people too are not showing interest in this city.
There were news that investors from Andhra were heading to Hyderabad, after TDP’s defeat in the elections.
The new government’s reverse tendering and the complete halt of the Amaravati works, too have contributed to the people to talk about investment migration to Hyderabad.
But, the statistics available with the stamps and registration office, show a downward trend in the real estate sector around Hyderabad.
The sale and purchase of properties in the suburbs of Hyderabad have come down alarmingly over the last four months.
There were 3,337 transactions in May in the Hyderabad South registrar office, which have come down to 3,092 in June. However, in July and August, there was a small increase in the transactions with the registrar office recording 3,764 in July and 4,103 in August.
But, that hike was temporary as there was vertical fall to just 2,614 registrations in September.
In the neighboring Ranga Reddy district, there was slow fall in the registrations from 31,903 registrations in July to 29652 in August and 27,492 in September.
This steep fall is also noticed in Medchal, Yadadri, Bhuvanagiri, Sangareddy, Nalgonda, Mahaboobnagar and Medak districts, which are adjacent to Hyderabad.