Akbaruddin Owaisi
Hyderabad: All India Majlis-e-Ittehadul Muslimeen (AIMIM) floor leader Akbaruddin Owaisi alleged that the fear of the Hyderabad Disaster Response & Asset Protection Agency (HYDRAA) and Musi River project has hit real estate in the city.
He made the remarks while speaking during the Assembly session. This is not the first time the MLA has raised the issue in the assembly.
Earlier, he alleged that people are unable to sell even small plots due to the fear of HYDRAA.
According to real estate experts, although people fear HYDRAA and the Musi River project due to recent demolitions in the city, demand has not been impacted significantly.
A report by real estate services company ANAROCK states that capital values in key micro markets of the top seven cities, including Hyderabad, have grown by a significant 128 percent between the end of 2021 and the end of 2024.
As per the report, in Gachibowli, prices increased from Rs 5,010 per sq. ft. at the end of 2021 to Rs 8,900 per sq. ft. at the end of 2024, reflecting a 78 percent hike.
Similarly, in Hitec City, prices increased from Rs 5,753 per sq. ft. at the end of 2021 to Rs 9,300 per sq. ft. at the end of 2024, marking a 62 percent hike.
Apart from raising the impact of HYDRAA fear and the Musi River project on real estate in Hyderabad, the MLA alleged that wealthy individuals have been availing government benefits at the expense of the poor.
During the discussion on the demand for grants for the welfare of SCs, STs, BCs, minorities, women and child welfare, and the disabled on Monday, he claimed that people living in large houses and owning cars and multiple motorbikes were availing scholarship schemes.
He also suggested that overseas scholarships worth Rs 20 lakh should be granted only to those who would return to India after completing their education.
This post was last modified on March 25, 2025 10:55 am