We all know that Telangana Chief Minister K.Chandrasekhar Rao had announced to build a Pharma City and a Cinema City on Hyderabad city outskirts soon after coming to power in June 2014.
He even conducted series of aerial surveys in three helicopters accompanied by industrialists to identify lands for these projects spread over thousands of acres.
Now one one knows about the fate of these projects. Despite this, KCR remains unstoppable and continues to make unrealistic promises on building new cities around Hyderabad.
On Saturday, a group of real estate developers met KCR and urged him to take steps to ensure growth of real estate sector in Hyderabad, that has been lying low for over six years due to political uncertainty in Undivided AP on account of Telangana statehood agitation between 2009 and 2014.
Even after bifurcation of state and formation of Telangana State, the realty sector continues to remain sluggish in Hyderabad. Builders sought certain incentives and concessions from KCR to revive the sector.
However, instead of going into these issues thoroughly, KCR asked builders to develop a new city in about 4,000 acres abetting Outer Ring Road.
Builders were surprised and shocked over KCR's proposals who wondered who would occupy those properties developed along ORR give that a large chunk of residential and commercial projects that have been completed more than five years ago are still lying vacant in Hyderabad with few or no takers.
