With Telangana becoming a reality, the focus has shifted on realty and that too in Hyderabad. So far, many are thinking Hyderabad is Hyderabad, a metro city.
Since it is becoming a capital of Telangana it doesn’t have to give Seemandhra any money. So, that faith is pepping up everyone.
But now Seemandhra is being given special category which means there are no taxes for businessmen, no Income Tax and state level tax will be less. This is done to attract investors.
Recently, the noted TDP MP Sujana Chowdary reportedly stated that he has a factory in Kodad. But if he sets up the same across the border he doesn’t have to pay taxes.
That way, if at border places factory is set up in Andhra side then purchases will be made from there only. It would be the same with neighbouring states also.
Overall, it would affect Hyderabad including the software industry. As such, it doesn’t take much time to start a firm unlike engineering industries.
If that happens, what about real estate in Hyderabad? The boom that the city has seen was only due to IT revolution.
A popular builder started a project at Nizampet three years back and it is being sold at the same price even today and in few cases it is Rs 500 less. Basically, they want to get rid of the properties soon.
The special category factor for five years to the new state has become a danger. Hence, the next six months are sure to cause suspense and it is going to damage real estate big time.
