Hyderabad's real estate sector saw 29 pc growth despite 'negative publicity', says CM Revanth Reddy

Despite the 'negative publicity', Hyderabad's real estate sector grew by approximately 29 per cent from April to November this year, compared to the same period last year when the BRS was in power, Chief Minister A Revanth Reddy said on Tuesday.

Speaking after inaugurating and laying the foundation stones forMunicipal Administration and Urban Development projects, Revanth Reddy challenged Union Minister and Telangana BJP chief G Kishan Reddy to bring funds from the Centre for the state's development if he is really "sincere".

"Despite negative publicity claiming the real estate sector in Hyderabad was affected, I want to inform the people of Telangana that the sector grew by about 29 per cent from April 1, 2024, to November 30, 2024, compared to the same period last year. This reflects our commitment to Hyderabad's development," he said.

The Chief Minister added that Rs 1.50 lakh crore is needed to fully develop the city's infrastructure and asked the state BJP chief on how much funding he could secure from the Centre.

He said that Hyderabad should be developed "into a global investment destination", and for this, the Centre must cooperate.

Revanth Reddy criticised Kishan Reddy for "opposing" the Musi River rejuvenation project and alleged that the Union Minister is "obstructing" the state government’s efforts out of fear that the state government may gain more recognition than Prime Minister Narendra Modi.

Revanth Reddy challenged Kishan Reddy, asking, “Will he bring funds or migrate to Gujarat? He should outline his action plan for the Musi project and specify how much funding he will secure for the Metro rail expansion in Hyderabad and other developmental projects.”

Revanth Reddy, while asserting that he had no personal differences with the Union Minister, added that he would "felicitate" Kishan Reddy if Modi allocates Rs 1.5 lakh crore for the "development of Hyderabad".

He also urged the BRS and BJP to outline their policies for the state's development, stating that the Congress government would consider and accept them if the proposals were beneficial.

He announced that the government would organise an all-party meeting under the leadership of Deputy Chief Minister Bhatti Vikramarka, where the BRS and BJP could present their proposals.

Revanth Reddy also warned that the Hyderabad Disaster Response and Asset Monitoring and Protection Agency (HYDRAA) would become a nightmare for those who have encroached upon 'nalas' and lakes.