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Behind The Scene: 'Aliens' Is The Proof!

Behind The Scene: 'Aliens' Is The Proof!

It is the case of a world-class vision gone horribly wrong. The arrest of the managing director of realty firm, 'Aliens Group', Hari Challa, was the natural culmination of the many problems the firm was besieged by over the better part of this decade.

More importantly, it is a live example and vindication of the problems that the realty sector is facing today.

Any people, especially from Telangana are unwilling to accept the fact that ‘brand Hyderabad’ has taken a beating and various surveys have indicated that the realty market has fallen by 50% compared to last year.

The Telangana people feel that it is an attempt to slur the separate State. However, it is undeniable that Hyderabad has lost out massively on investments to Karnataka and Tamil Nadu because of the T-agitation. And the realty sector has taken a nose dive.

People from Seemandhra have deferred their buying decisions and since they constitute the major buyers, understandably their decisions do affect the market.

Falling demand at alarming levels coupled with escalation in development costs has affected many firms such as ‘Aliens’.

The sale of the project is currently untenable for the company. This is one company whose existence has been jeopardized by the T-agitation and bifurcation. But it only reflects the overall plight of the industry.

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