Sun Nov 03 12:10:07 UTC 2024: ## Hyderabad Real Estate Market Shows Resilience Despite Demolition Drive
**HYDERABAD, November 3, 2024:** Despite concerns that the ongoing demolition drive led by the State government through HYDRAA would impact the real estate market, the Registration and Stamps department has reported a steady rise in property registrations over the past few months.
The department received a significant number of applications for both residential and commercial property registrations in October, with 87,785 applications for residential properties and 794 for commercial properties. The trend continued into November, with 3,754 residential and 33 commercial property applications submitted in the first two days of the month.
This surge in activity began in July, with 23,507 applications for residential and 190 for commercial properties. The numbers continued to climb in August and September, reaching 41,704 and 416 respectively in August and 8,091 and 737 respectively in September.
The department has generated ₹7,251 crore in revenue till September, representing 39.78% of the projected ₹18,228 crore for the entire fiscal year. While this progress is slower than previous years, it is still higher than the ₹7,006 crore revenue collected during the first half of the previous fiscal year.
Officials attribute the resilience of the market to the government’s guidance for buyers on investing in the right areas, along with speculation of an impending hike in land values to bridge the gap between market prices and government-prescribed rates.
With more large-scale projects in the pipeline, officials are optimistic about the future of the real estate market, expecting continued growth in registrations in the coming months.
First Piper 