Ever since the Congress government took charge in Telangana, a narrative has been built against CM Revanth Reddy suggesting that the real estate market has slowed down. However, the reality seems to be the exact opposite, with Hyderabad’s real estate sector booming like never before.
A recent land auction in the Kukatpally region of Hyderabad has generated massive revenues for the state government.
According to reports, Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders fiercely competed to acquire 7.8 acres of prime land in the Kukatpally Housing Board Colony.
In the e-auction held on Wednesday, Godrej Properties secured the land at a record ₹70 crore per acre, amounting to ₹547 crore in total for 7.8 acres. This has become one of the most lucrative real estate deals in recent times, reflecting the strong demand for prime land in Hyderabad.
The Telangana government has now announced that the revenue from this auction will be utilized for housing projects aimed at poor and middle-class families.
On one hand, Hyderabad’s real estate market continues to prove its strength, and on the other, the state government’s decision to channel this revenue into welfare housing projects is being seen as an effective wealth distribution initiative that benefits the needy.
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