Telangana Minister Ponguleti Srinivas Reddy has refuted claims that Hyderabad’s real estate market suffered during Nara Chandrababu Naidu’s tenure. He called these allegations “false propaganda” and emphasized that Hyderabad remains a top choice for investors compared to Amaravati.
Speaking to the media, the Minister stated, “There is no truth to the rumors that Hyderabad’s real estate sector collapsed when Chandrababu stepped in. Investors still prefer established markets like Hyderabad and Bengaluru over Amaravati.”
His comments come amid ongoing discussions about Chandrababu Naidu’s developmental policies during his time as Chief Minister of Andhra Pradesh. Critics have often highlighted his efforts to promote Amaravati as a rival to Hyderabad’s prominence after the state’s bifurcation.
Ponguleti pointed out that Hyderabad and Bengaluru attract significant investments because of their strong infrastructure, connectivity, and established status as IT hubs. In contrast, Amaravati, he noted, still has a long way to go to gain similar investor confidence.
The Minister also reaffirmed the government’s commitment to balanced development across Andhra Pradesh while acknowledging Hyderabad’s critical role in the real estate and business sectors.
