It has been revealed that some people are running campaigns to collect R-Tax in Hyderabad. Recently, the Real Estate Guru contacted several builders who had applied for permits to find out the same. But they said that they had not heard anything about R-tax. He said that no officer asked about R-Tax at any stage. Asked if any of the builders under GHMC and HMDA paid R-Tax? He said that no one has told him about such a tax. All in all, it is known that some people are running such false campaigns just to damage Hyderabad real estate.
After the Congress government came to power, since the permissions were not released in December, the builders of Hyderabad were left confused. However, the real estate sector was initially shocked when PM Modi himself announced that R-tax was being collected in Telangana state. Although it was not sure how much of it was true, in the market, discussions about the R-tax have started. Real Estate Guru spoke to several builders to find out the same. They replied that they had not heard about R-tax anywhere, and no one had asked about it as well. The official said that there are no documents that have been specifically asked for as R-tax. Due to the non-availability of a collector in the Hyderabad area, many have expressed that the approvals for the projects are getting delayed. The realtors want the government to take strong action without delaying approvals for high-rise construction.
Some real estate agents, investors, and expatriates are complaining about the Congress’ win in the last assembly elections. The real estate sector, which was in good shape before that, has suddenly turned into a nightmare for builders. Investors were surprised when Congress came to power and suddenly stopped the new Metro line. They adopted a wait-and-see attitude. From December to March, many have been waiting for the government to make decisions to put Hyderabad’s real estate in the groove. However, they were disappointed, as they did not get any encouragement to develop the real estate market. Meanwhile, since the rush of elections started in April, people have forgotten about buying houses and are mainly looking at who will win the elections. However, it is noteworthy that from December to May, expatriates did not focus on Hyderabad at all. Real estate experts say that if the government that came to power had weighed every aspect and taken some time in making decisions, there would not have been such a difficult situation in the real estate market of Hyderabad. They expect the present government to make good decisions, as they are going to be in power for the next five years.
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