If you believe that real estate sector in Hyderabad is booming again by looking at recent Rs 30 crore per acre price in Raidurg near Hitech city, think twice.
The recent e-auction conducted by Telangana government to sell land parcels in Hyderabad found takers only for lands in Raidurg.
Even in Manikonda and Kokapet, which too are close to Hitech city, the aution fetched price less than the market price.
But Telangana government is trying to create a wrong impression that Hyderabad real estate was booming by publicising only Rs 30 crore per acre Raidurg price.
While the market rate in Manikonda and Kokapet is nearly Rs 40,000 per sq.yard, the aution fetched just about Rs 25,000 per sq.yard, which the Telangana government is trying to keep under the wraps by publicisng Raidurg price.
In fact, Telangana government had put up 17 land parcels in Ranga Reddy district and 10 parcels in Hyderabad district for sale. But only lands in RR district, that too near to Hitech city found takers, while no one came forward to buy lands in Hyderabad district.
Even the upmarket areas like Jubilee Hills, Banjara Hills etc found no takers, where about 3.5 acres in different bits for put for for sale.
In this backdrop, how far is it justified on the part of Telangana government to publicise that Hyderabad realty is booming. Is it not misleading the public?
