Hyderabad’s once-thriving real estate and construction sector is now grappling with a significant slowdown. The decline is attributed to a lack of new projects, dwindling residential property sales, and unstable urban development policies under the Congress government. Corruption in construction permit processes has further deepened the crisis, leaving stakeholders in distress.
Decline in Projects and Approvals: The Greater Hyderabad Municipal Corporation (GHMC) approved just 14,043 construction permits in 2024, a sharp fall from 39,869 permits in 2023. This stagnation is evident in declining high-rise construction applications in areas like Serilingampally, LB Nagar, and Secunderabad.
Revenue Losses and Challenges: GHMC’s revenue from building permits dropped by over ₹55 crore, from ₹870.96 crore in 2023 to ₹815.76 crore in 2024. Builders have faced lengthy delays in permit approvals and bureaucratic hurdles, causing financial setbacks and operational inefficiencies.
From Growth to Stagnation: Hyderabad’s real estate sector flourished under the KCR government, attracting global investments with world-class infrastructure. However, current policy uncertainties and corruption have dampened growth prospects.
Path to Recovery: Experts emphasize transparent approval processes, anti-corruption measures, and fostering trust between builders and authorities to rejuvenate the sector and restore Hyderabad’s status as a real estate hub.
