Once, banks would line up to give loans to builders, but now, due to 14 months of Congress rule, they are unable to get loans, says the BRS leader
Published Date – 2 February 2025, 06:25 PM
Hyderabad: Holding the Congress misrule squarely responsible for the suicide of builder Venugopal Reddy in the city, BRS leader and MLA T Harish Rao said it was a murder committed by the Revanth Reddy government.
He pointed out that after farmers, weavers and auto drivers, now even builders were taking their lives in the State. “They were all being driven by Congress policies and their disruptive potential to such a desperate state,” he said.
“It is unfortunate that in Hyderabad, which was once a paradise for the construction industry under the BRS rule, builders are facing the worst,” the BRS leader said after he visited Venugopal Reddy’s residence in Kompally along with a host of party leaders to console the grieving family.
He enquired about the reasons behind Venugopal Reddy’s suicide. The family, in tears, revealed that Reddy had been distressed for a long time due to significant losses in the real estate sector. He assured the family of BRS support and promised to raise the issues faced by builders in the Assembly. He emphasised the importance of standing firm and facing difficulties, promising that the BRS would mount pressure on the government to address their concerns.
“Once, banks would line up to give loans to builders, but now, due to 14 months of Congress rule, they are unable to get loans. Unable to sell even a single apartment and facing mounting debts, Venugopal Reddy lost courage and took this drastic step. Seeing the grief brought tears to our eyes. Venugopal Reddy’s suicide is, in a way, a result of the Congress government’s failures,” he said.
“It is heartbreaking to see a young builder die at the age of 39, leaving behind a five-year-old daughter. The family is urging Revanth Reddy to ensure that other builders do not resort to such extreme measures,” Harish Rao said, also criticising the Congress government’s decisions, stating that Revanth Reddy’s thoughtless decisions had destroyed the real estate sector.
He had cancelled Metro projects, and Pharma City projects and ordered shops to close after 10 pm. Such decisions created a negative environment, and people were now afraid to invest in Hyderabad. The Congress government should be ashamed of itself, he added. He demanded the government extend support to Venugopal Reddy’s family and take proactive steps to restore the real estate sector to its former glory.
“We demand that the government help Venugopal Reddy’s family and take measures to revive the real estate sector. If the government does not wake up now, Telangana, which has been progressing for the last ten years, will face a setback,” he warned. Harish Rao also called on the Builders Association to address the issues faced by small builders and ensure that such tragedies do not occur in the future.