Business

Hyderabad housing market witnessed 19% sales drop and 58% decline in new launches: Report-Telangana Today

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The latest to highlight what could be described as a tragic dwindling of real estate market fortunes in the city is the ‘Real Insight Residential Report’ by PropTiger.com.

Published Date – 8 October 2024, 07:26 PM


Hyderabad housing market witnessed 19% sales drop and 58% decline in new launches: Report


Hyderabad: Once flourishing and an envy of every metro in the country, Hyderabad residential real estate seems to be fumbling to a steep decline, both in terms of sales and also new launches.

The latest to highlight what could be described as a tragic dwindling of real estate market fortunes in the city is the ‘Real Insight Residential Report’ by PropTiger.com.

The report which examined eight residential markets of the country during July-September quarter of 2024 revealed that Hyderabad faced a notable decline, with sales dropping 19 per cent year-on-year (YoY) compared to last year. While 14,191 units were sold in Q3 of 2023, the numbers dwindled to 12,296 in Q2 2024 and further dropped to 11,564 units in Q3 2024.

Not just sales, the prevailing market trend also shows a massive drop of 58 per cent in the new projects launched during this year quarter i.e., the Q3 2024. In the ‘New Launches Comparison (YoY Q3 2024 vs. Q3 2023), PropTiger.com report said, “Hyderabad experienced a sharp 58% YoY decline, with new launches falling to 8,546 units from 20,481 in the previous year.”

Though the report points out that the number of new residential units launched in the top eight markets had a significant 25% drop, the highest drop has been registered in Hyderabad. Also, the city’s drop comes in the backdrop of Delhi NCR witnessing a robust 76 per cent YoY rise in new launches, Mumbai dropping by 13 per cent, and Pune’s new supply contracting by 3 per cent.

In terms of sales too, Delhi NCR saw a significant sales surge of 29 per cent YoY and Mumbai, while leading in overall volume, experiencing a slight 1 per cent dip, the PropTiger.com said. Bengaluru’s sales decreased by 11 per cent YoY and Ahmedabad recorded a 9 per cent YoY drop, it added.

PropTiger.com report said a sharp increase in home prices, averaging a nearly 20 per cent increase across the top eight cities, impacted affordability leading to a 5 per cent YoY drop in overall sales. New launches witnessed a more significant 25 per cent YoY decrease compared to the same quarter in 2023.

Vikas Wadhawan, CFO of REA India and Business Head of PropTiger.com, said, “With the festive season kicking off with Navratri, renewed buyer interest and a spike in sales activity are anticipated. The market frenzy has slowed, creating a more stable environment for end-users.”

Hyderabad

Govt move to replace Dharani with Bhu Bharati will prove counterproductive, says Kavitha

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While discussing the Bhu Bharati (Record of Rights in Land) Bill, 2024, in the Legislative Council on Saturday, Kavitha expressed concerns that the bill would create confusion across the State, causing difficulties for people in resolving land-related issues. Defending the BRS government’s initiative to introduce the Dharani portal for land registration, she emphasized that Dharani serves as a protective shield for farmers, effectively curbing land scams in the State.





Published Date – 21 December 2024, 09:03 PM


Govt move to replace Dharani with Bhu Bharati will prove counterproductive, says Kavitha


Hyderabad: Terming the move of the Congress government to replace Dharani with Bhu Bharati portal as a retrograde move, BRS MLC K Kavitha warned that the Bhumata portal would lead to land grabbing and other issues creating problem for people of the State.

Speaking on Bhu Bharati (Record of Rights in Land) Bill, 2024 in the Legislative Council on Saturday, Kavitha said the Bhu Bharathi would create chaos in the State and that people would face problems in resolving land issues. Defending the BRS government initiative to introduce Dharani portal to register lands, she said the Dharani was a protective shield for farmers of the State and that it helped in arresting land scam in the State.

In the past, if tenant farmers filed cases, farmers used to go around the courts for 20-25 years, hence the then Chief Minister K Chandrashekhar Rao brought reforms and through which he made sure that only the farmer had the right to own the land, she said, adding that Chandrashekhar Rao provided land security to farmers, and many land problems were resolved through the Dharani.

About 35,749 employees cleared the revenue records in 100 days, after which the land details were uploaded in the Dharani, she said, adding that the BRS government saved government lands with the Dharani, and after it came into existence, not a single inch of government land was alienated.

She reminded that the BRS government had brought the land registration system closer to the people, and that the work could be completed in 42 minutes by doing registration and mutation at the same time, and that all land-related work was completed in a matter of minutes.

Due to the correctness of land records, land rates had increased and the wealth of the State had increased, she said, adding that many disputes used to arise in the State due to manual land records, which Dharani solved.

“Due to the clarity of land records and the names of the owners, farmers were provided with Rythu Bandhu. The BRS government provided Rythu Bandhu to about 66 lakh farmers due to Dharani. Earlier crop loans were not even available.

But after Dharani came, banks started giving crop loans. Thus, farmers were freed from private moneylenders,”she said.
If land titles were written with 32 columns again, the old system would come back and disputes would arise between farmers, which would result in registration of cases and financial burden, she cautioned.

Middle East

Qatari delegation to hold meeting with HTS leader

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Qatar was one of the main supporters of terrorist groups in Syria after the beginning of the unrest in this country in 2011. Now with the overthrow of Bashar al-Assad’s government, Doha is seeking to expand relations with this country.

Qatari sources announced that the Qatari Minister of State at the Ministry of Foreign Affairs HE Dr Mohammed bin Abdulaziz bin Saleh Al Khulaifi headed a delegation to Damascus on Monday and is set to meet and talk with Tahrir al-Sham ringleader Mohammad Al-Jolani.

The expansion of diplomatic and political relations with the future government of Syria will be one of the main axes of this trip.

During the last few years, Qatar has played a special role in Syria’s current affairs by expanding its relations with Turkey. Even now, Hayat Tahrir al-Sham and what is called the Syrian National Army (supported by Turkey) have close relations with Qatar.

MP/6324615

Sports

HCA Tournament: Sathwik stars in Pallavi Model School’s win

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Sathwik shone with figures of 7/20 in Pallavi Model School’s comfortable nine-wicket win over Genesis School in the HCA U-14 Boys One Day Knockout Tournament on Tuesday.

Published Date – 17 December 2024, 08:29 PM


HCA Tournament: Sathwik stars in Pallavi Model School’s win

Sathwik Reddy

Hyderabad: Sathwik shone with figures of 7/20 in Pallavi Model School’s comfortable nine-wicket win over Genesis School in the HCA U-14 Boys One Day Knockout Tournament on Tuesday. Batting first, Genesis were bundled out for a mere 83 runs in 25.5 overs, as Sathwik wreaked havoc. In reply, Akhil’s unbeaten 40 runs guided their side to reach the target in 15.4 overs.

Brief Scores: Genesis School 83 in 25.5 overs (Sathwik 7/20) lost to Pallavi Model School Boduppal 84/1 in 15.4 overs (Akhil 40 no), HPS Ramanthapur 203 in 28.4 overs (Srikar 43, Sai Karthik 3/37, Keerthin 4/29) bt Johnson Grammar Mallapur 100 in 20.3 overs, St Joseph P School 27 in 11.5 overs (Jeeth Adhya 7/19) lost to Warangal Dist 28/0 in 3.5 overs, Adilabad Dist 132/10 in 27.2 overs (Anas 41, Vishwateja 5/28) bt Karimnagar Dist 73 in 22 overs (Anas 5/22), Tatva Global School 211 in 35.3 overs (Sriniketh 33, Tanishq 4/19) bt St Anthonys Grammar S 42 in 9.3 overs (Parvez 3/9, Sriniketh 3/2), Bhavans SRK Vidyalaya 143 in 40.3 overs (Utkarsh 48) lost to Gowtham Model S Ameerpet 150/2 in 35 overs (Sudhamsh 67 no), World One School 290 in 38 overs (Harsh Gandra 132, Ashwin 4/73) bt The Shriram Universal S 88/10 in 19.1 overs (Hare Krishna 3/21), Medak Dist 310/6 in 45 overs (Sai harshith 102, Jagathveer 101) bt St Anns HS Kompally 52 in 25.4 overs, St Peters 260/8 in 38 overs (Anish Reddy 92) bt St Anns HS Miyapur 144 in 33.5 overs (Vamsi 58, Prabhmeet 4/36), Rockwell Int S 172 in 37.4 overs (Mokshith 68, Akshith 5/32) lost to Johnson Grammar S Mallapur 173/1 in 27.3 overs (Sai Smaran 111 no), Pragathi Central School 146/2 in 26 overs (Shreyas 59 no) bt St Marks Boystown 123/10 in 18.1 overs (Abdul Khaliq 76, Yuvan Chandra 3/11), Goutham Model S west Marredpally 338/3 in 48 overs (Riteesh Reddy 138, Karthikeya 52, Anirudh Naik 81) bt Crescent HS 150/7 in 48 overs (Trishik Gupta 64 no, Krish 3/12), Oakridge Int S Bachupally 111/8 in 23 overs (Rana 43, Rudraneel 3/28, Arpit Kumar 3/28) bt Oak Valley S 95/10 in 15 overs (Aarush 47 no, Rana 3/17).

Top News

'Sunny Leone' Got Rs 1000/Month Under Chhattisgarh Scheme For Married Women

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'Sunny Leone' Got Rs 1000/Month Under Chhattisgarh Scheme For Married Women

One of the accounts receiving money every month was opened in Sunny Leone’s name

Raipur:

In a shocking case of fraud in a Chhattisgarh government scheme for married women, a man allegedly opened an account in the name of actor Sunny Leone and had been pocketing the sum of Rs 1,000 deposited in it every month.

Under the BJP government’s Mahtari Vandan Yojana, married women in Chhattisgarh receive Rs 1,000 into their accounts every month. It has now come to light that one of the accounts where the sum was being deposited was in the name of Sunny Leone.

The man who allegedly opened and operated this account has been identified as Virendra Joshi and a case is being registered against him for further action. Officials responsible for verification of eligible beneficiaries of the scheme are also being identified.

The fraud has been reported at Talur village in Chhattisgarh’s Bastar region. District collector Haris S has asked the Women and Child Development Department to carry out an in-depth probe into this matter and seize the bank account for recovery. According to officials, media reports had drawn their attention to this shocking case of fraud.

The revelation has sparked a heated exchange between the ruling BJP and the Opposition Congress.

State Congress chief Deepak Baij has alleged that over 50 per cent of beneficiaries under the Mahtari Vandan Yojana are fake. Deputy Chief Minister Arun Sao shot back that the Congress is pained because women of the state are now receiving the monthly assistance that the Congress could not provide in its previous term.

Business

Rupee gains 5 paise to 83.92 against US dollar ahead of RBI policy announcement-Telangana Today

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Most major central banks have shifted towards rate cuts, with the US Fed recently lowering rates by 50 basis points. Meanwhile, the RBI has kept its accommodative stance. The focus now turns to whether the central bank will transition from this accommodative position to a more neutral approach.





Published Date – 9 October 2024, 11:00 AM


Rupee gains 5 paise to 83.92 against US dollar ahead of RBI policy announcement


Mumbai: The rupee appreciated 5 paise to 83.92 against the US dollar in early trade on Wednesday, ahead of the Reserve Bank of India’s monetary policy announcement.
Forex traders said the spotlight is firmly on the RBI as it prepares to announce its RBI.

Most major central banks have pivoted toward rate cuts, with the US Fed being the latest to lower rates by 50 basis points. The RBI has maintained its accommodative stance. All attention now shifts to whether the central bank will move from its accommodative stance to a more neutral approach.

At the interbank foreign exchange market, the local unit opened at 83.92 against the

American currency, registering a rise of 5 paise over its previous close.

On Tuesday, the rupee rose 3 paise to close at 83.97 against the US dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was up 0.03 per cent to 102.58 points.

Brent crude, the international benchmark, was trading higher by 0.40 per cent to USD 77.49 per barrel in futures trade.

The rupee appears to be range-bound for now, caught between global pressures and stronger US economic data on one side, while the RBI stands firm on the other, bolstered by its robust foreign reserves of over USD 700 billion, CR Forex Advisors MD Amit Pabari said.

“As a result, the USDINR pair is expected to trade within a range of 83.80 to 84.05 in the short term,” Pabari added.

On the domestic equity market, the 30-share BSE Sensex appreciated 257.05 points, or 0.31 per cent, to 81,891.86, while the Nifty was up 75.75 points, or 0.3 per cent, to 25,088.90 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 5,729.60 crore, according to exchange data.
The reconstituted rate-setting panel of the Reserve Bank on Monday started deliberations on the next bi-monthly monetary policy.

In the current context, experts feel that the RBI may not follow the US Federal Reserve, which lowered the benchmark rates by 50 basis points, and the central banks of some developed nations, which have reduced the interest rates.

Hyderabad

Deceit, broken promises and shattered aspirations; It’s a bitter 2024 for unemployed youth in Telangana

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The Congress promise in its youth declaration during the Assembly elections generated hope among the unemployed. However, as months passed by, reality dawned for the unemployed youth that the promises were mere bait to garner votes

Published Date – 21 December 2024, 07:18 PM


Deceit, broken promises and shattered aspirations; It’s a bitter 2024 for unemployed youth in Telangana

Congress

Hyderabad: Broken promises and shattered aspirations. It has been a bitter ‘Year 2024’ for the unemployed youth of Telangana with the Congress government led by A Revanth Reddy failing to deliver the poll promise of filling up 2 lakh vacancies in a year.

The Congress promise in its youth declaration during the Assembly elections generated hope among the unemployed. However, as months passed by, reality dawned for the unemployed youth that the promises were mere bait to garner votes.

As part of the youth declaration, the Congress party assured to release the mega district selection committee (DSC) notification for filling up teacher vacancies. However, it had added 5,973 vacancies to the DSC notification, which was already notified with 5,089 posts by the previous BRS government in 2023. This left thousands of teacher job aspirants betrayed.

Further, the State government did not approve a single recruitment to the Telangana Public Service Commission (TGPSC), the largest recruiting body to the government, resulting in no new notification from the Commission this calendar year. The only notification has been of the Group – I for 563 vacancies out of which 503 posts were already notified by the BRS government in 2022.

Of the 2 lakh promised jobs, only 5,000 vacancies in the health department materialized with the majority of vacancies in different departments remaining unfilled.

During the previous BRS government, the TGPSC had alone consistently issued 135 notifications for over 52,500 vacancies in the last one decade. These notifications had become a reliable job calendar for unemployed youth.

Now, lack of job notifications not just dashed hopes of the unemployed youth but has left them with a sense of betrayal. “The Congress promise during assembly elections was nothing but cheating unemployed youth in the name of jobs. As per our estimates there are 2.67 lakh vacancies in government departments yet recruitment were not approved for the same,” lamented A Janardhan, an unemployed youth and Groups job aspirant.

While the Congress government is making claims of filling up 55,143 vacancies in one year, notifications for all these vacancies were issued during the previous BRS government. The present government handed over the appointment letters to candidates selected in the examinations conducted by the previous government.

Further, the Congress government’s job calendar released in the Assembly in August, giving time-line for 14 different job notifications, remained confined to paper.

As per the calendar, the government scheduled Group – I notification in October with the preliminary test in February 2025. However, even after two months the government did not approve Group – I vacancies for recruitment, leave aside Group – I notification. In fact, the current Group – I services recruitment notification has been facing legal hurdles for different issues, including reservation violation.

“The job calendar is another drama by the Congress government, which is delaying the notifications citing SC sub categorisation issue. If the government wants it can issue a GO on the reservation issue and take up new recruitments,” said Indra Nayak, a Group job aspirant.

Sports

Sub-Junior National Basketball Championship: Telangana beat Uttarakhand 49-34

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After an emphatic win over Assam on the opening day, Telangana girls continued their good form by beating Uttarakhand 49-34 in the 49th Sub-Junior National Basketball Championship for Boys and Girls in Hyderabad on Tuesday.

Updated On – 17 December 2024, 08:35 PM


Sub-Junior National Basketball Championship: Telangana beat Uttarakhand 49-34

Players of Telangana and Uttarakhand in action in Hyderabad on Tuesday

Hyderabad: After an emphatic win over Assam on the opening day, Telangana girls continued their good form by beating Uttarakhand 49-34 in the 49th Sub-Junior National Basketball Championship for Boys and Girls in Hyderabad on Tuesday.

Meanwhile, the State boys’ team suffered two defeats – losing to Chattisgarh 63-58 and Himachal Pradesh 52-48 – meaning they are virtually out of the race for qualifying for Level-I.

Results: Girls: Chattisgarh 63 bt Punjab 18, Haryana 51 bt Madhya Pradesh 57, Kerala 45 bt Uttar Pradesh 29, Chandigarh 82 bt Jammu & Kashmir 16, West Bengal 39 bt Gujarat 38, Chandigarh 84 bt Himachal Pradesh 30, Gujarat 88 bt Bihar 10, Telangana 49 bt Utharakhand 34; Boys: Chattisgarh 63 bt Telangana 58, Himachal Pradesh 52 bt Telangana 48, Rajasthan 72 bt Punjab 71, Tamil Nadu 79 bt Maharashtra 59, Haryana 98 bt Mizoram 33, Gujarat 66 bt Bihar 54, Delhi 72 bt Bihar 42.

Top News

Donald Trump Vows To "Stop Transgender Lunacy" On Day One In Office

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US President-elect Donald Trump on Sunday pledged to “stop the transgender lunacy” on day one of his presidency, as Republicans — set to control both chambers of Congress and the White House — continue their push against LGBTQ rights.

“I will sign executive orders to end child sexual mutilation, get transgender out of the military and out of our elementary schools and middle schools and high schools,” the president-elect said at an event for young conservatives in Phoenix, Arizona.

He also vowed to “keep men out of women’s sports,” adding that “it will be the official policy of the United States government that there are only two genders, male and female.”

Speaking to the AmericaFest conference in a border state he easily carried in the November election, Trump further promised immediate measures against “migrant crime,” vowed to designate drug cartels as foreign terrorist organizations, and doubled down on his talk of restoring US control of the Panama Canal.

Transgender issues have roiled US politics in recent years, as Democratic- and Republican-controlled states have moved in opposite directions on policy such as medical treatment and what books on the topic are allowed in public or school libraries.

Last week, when the US Congress approved its annual defense budget, it included a provision to block funding of some gender-affirming care for the transgender children of service members.

In his speech Sunday, which amounted to something of a victory lap, Trump made expansive promises for his second term — and drew a dark picture of the four years preceding it, under President Joe Biden and Vice President Kamala Harris, the latter of whom he defeated in the 2024 election.

“On January 20, the United States will turn the page forever on four long, horrible years of failure, incompetence, national decline, and we will inaugurate a new era of peace, prosperity and national greatness,” Trump said, referring to his swearing-in.

“I will end the war in Ukraine. I will stop the chaos in the Middle East, and I will prevent, I promise, World War III.”

He added: “The golden age of America is upon us.”

The president-elect has yet to explain publicly how he plans to bring a quick end to the war in Ukraine, or to bring peace to the Middle East.

But in the sort of bellicose language he sometimes used even against US allies in the past, Trump said Sunday that Panamanian authorities “haven’t treated us fairly” in their operation of the Panama Canal. 

He had said earlier that fees for use of the canal — construction of which was begun by France and completed by the United States — are “ridiculous.”

And he added Sunday that if the principles behind the 1970s treaty that gave Panama full control of the canal are not followed, “then we will demand” that it be returned to the United States “in full, quickly and without question.”

Thousands of ships transit the key Central American waterway every year, making it critical to US and international commerce. 

The president-elect, who regularly blames migrants from Latin America for America’s drug problems, renewed his vow to immediately begin “the largest deportation operation in American history” upon taking office, and later went further, saying he would “immediately designate the (drug) cartels as foreign terrorist organizations.”

“This criminal network operating on American soil will be dismantled, deported and destroyed,” Trump said.

During his first term in 2019, after the killing in Mexico of nine American citizens from a Mormon community, Trump vowed to apply the terrorist designation to Mexican cartels. 

But he relented following a plea from then-Mexican president Andres Manuel Lopez Obrador.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)