Real Estate Business Nosedives Nizamabad

Nizamabad: The real estate business in undivided Nizamabad district has been on a steady decline from just ahead of the Assembly elections.

Sales of open plots and flats have sharply decreased in Nizamabad and Kamareddy districts.

Meanwhile, from the time the Congress party came to power, the realtors have been waiting for announcements of new initiatives.

Another factor that led to the fall has been the fear that haunted both potential buyers and sellers of carrying cash as poll panel officials were seizing all unaccounted cash that was being transported in the run up to the elections.

Today, completed flats are not finding any takers even though some builders are ready to sell them at cheaper rates

Apart from the registrar office in Nizamabad, sub registrar offices are at Armoor, Banswada, Bheemgal, Bichkunda, Bodhan, Domakonda, Kamareddy, Yellareddy and Nizamabad rural.

It should be noted that from April 2023 to January 2024, the registration department’s revenue stood at `142 crore from the 53,942 documents that came up for registration.

Speaking to Deccan Chronicle, Laxma Reddy, a real estate agent said that business would be low till the completion of the Lok Sabha elections.

‘We are hopeful that real estate business will peak after the crop ending season in October’, he said. Meanwhile, even the people are also eagerly waiting for policy decisions of the Congress government vis-à-vis real estate business, he said.

( Source : Deccan Chronicle )
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