Telangana Municipal Minister K Taraka Ramarao (KTR) has been a vocal critic of the real estate price hike that has taken place in the state since the TRS government came to power in 2014. He has warned that land prices will drop if the Congress party is voted to power in Telangana.
However, KTR’s political experts seem to believe that these statements may backfire. They argue that the real estate boom has made it impossible for middle-class families to buy homes or apartments. Rents have also increased exorbitantly.
In an effort to address these concerns, KTR has announced a new scheme for middle-class families. The scheme would provide interest subvention on home loans for houses between 1,200 and 1,500 square feet.
This scheme is similar to the central government’s housing scheme for the middle class. However, the initial response to the scheme has been lukewarm. Some people believe that it would be better for the government to focus on controlling real estate prices rather than offering subsidies.
Others believe that the last-minute announcement of the scheme is a sign of desperation on the part of the TRS party. If this perception takes hold, the scheme could do more harm than good.
It is important to note that the real estate market is cyclical. Prices go up and down over time. It is possible that the real estate market will cool down on its own, even without government intervention.
However, the TRS government is clearly concerned about the impact of the real estate boom on middle-class voters. The new scheme is an attempt to address this concern. Whether or not the scheme will be successful remains to be seen.
Only time will tell whether KTR’s last-ditch effort to win back middle-class voters will be successful.
Appealing to new constituency of middle class voters, @BRSparty leader @KTRBRS says govt may help pay interest on loans to achieve goal of #HousingForAll in addition to existing 2BHK, Gruhalakshmi scheme; another neglected goal #LiteracyForAll to be prioritised @ndtv @ndtvindia pic.twitter.com/OUcz9d5klX
— Uma Sudhir (@umasudhir) November 24, 2023