Real estate market dipped in Karnataka after Congress came to power: KTR

Hyderabad: K T Rama Rao, working president of the BRS and Telangana industries minister, alleged that there has been a 28 per cent decline in the real estate and construction industry in Karnataka since the Congress assumed power in the neighbouring state.

Addressing the 'Real Estate Summit' in Hyderabad, KTR shared his vision for the city and outlined the action plan to be implemented "after forming the government for the third time" on December 3.

Discussing the Congress government in Karnataka, KTR urged people to observe the developments in Bangalore.

“There was a 28 per cent dip in the construction and real estate industry after Congress came to power in Karnataka. Only a stable government and an able leadership can keep the progress going. If you wish to enjoy the industry's growth and your holidays, don't give us a holiday. Support a government working for the welfare of all,” KTR said.

Talking about the three prominent Chief Ministers the Telugu states have had, KTR said that the Chandrababu Naidu government from 1999 to 2004 was pro-IT and Hyderabad, the Y S Rajashekar Reddy government from 2004 to 2009 was pro-rural areas, agriculture, and the poor. He further stated that Chief Minister KCR, since 2014, has maintained a balanced approach as the BRS government supports both urban and rural development, agriculture and business. This balance is unique, he added.

In the meeting, KTR talked about the 'Telangana model,' which he termed holistic, integrated, inclusive, and balanced. He further added that the BRS government introduced policies and schemes keeping in mind rural and urban development, industry and environment, agriculture, and information technology.

KTR claimed that the opposition focuses on issues that concern only a few self-styled intellectuals, politicians, and lobbyists, not the common man. He countered accusations of arrogance, stating, “We have a love for Telangana, and we don’t have arrogance.”

In 2014, IT exports were Rs 57,000 crores, and by 2023, the numbers rose to Rs 2,41,000 crores, despite the challenges posed by Covid-19, he said.

Regarding the BRS government’s future focus, KTR announced the introduction of a new housing scheme in addition to the existing 2 BHK program, aiming to provide a house for every family in the state. He also mentioned plans to expand the Hyderabad metro to 415 km over the next ten years, emphasizing the importance of a robust public transport system for a city to become global. He assured the completion of a 250 km metro line within the next five years.