The real estate is not doing the right business in Hyderabad it looks like. Abnormal growth is one of the reasons that is being attributed to the present state of affairs.
While there is a paucity of land in the city, about hundred crores was given for the construction of the High Court here in RR district near the agriculture university.
Giving unlimited FSI is not right for the city which is already cluttered with the traffic the analysts say. CM Revanth Reddy who claims to be a real realtor is not implementing it in the right perspective.
If you give fifty floors where will this population go when they come out of the fifty floors is the question. There should be a proper perspective in this so-called High rise concept.
It should be looked into a realistic manner before giving permission. The viability of High Rise is only to some extent and not the entire area. There is land on the outskirts and it can be utilised for the construction.
When there is no land, one can go for the High rise. Buying flats with crores is nothing but waste of money they say. There is no regulation for the buildings and the high-rising buildings.
The stagnation is coming in the real estate sector in Hyderabad. More than fifty percent of the flats are empty now in and around Hyderebad. The real estate might get reversed in the coming days they say.
More than 3 lakh apartments are empty. The realtors are getting he money back by selling some floors and they are not bothered if other floors are empty.
So it is not right to rush for the purchase of flats.
