Telangana Minister Ponguleti Srinivas Reddy has dismissed allegations that Hyderabad’s real estate market declined following Nara Chandrababu Naidu’s tenure. Speaking on the matter, the Minister termed such claims as “false propaganda” and emphasized that Hyderabad continues to thrive as a preferred investment hub over Amaravati.
Addressing the media, Ponguleti stated, “There is no truth to the rumors that Hyderabad’s real estate sector collapsed when Chandrababu stepped in. Investors still show more inclination towards established markets like Hyderabad and Bengaluru rather than Amaravati.”
The statement comes amid ongoing debates about the economic and developmental policies of Chandrababu Naidu during his tenure as Chief Minister of Andhra Pradesh. Critics have often pointed to his efforts to develop Amaravati as a counterbalance to Hyderabad’s dominance post bifurcation.
However, Ponguleti argued that cities like Hyderabad and Bengaluru continue to attract substantial investments due to their infrastructure, connectivity, and established reputation as IT hubs. Amaravati, he said, still has a long way to go before reaching similar levels of investor confidence.
The Minister’s remarks say that the government’s stance on promoting balanced development across Andhra Pradesh while recognizing Hyderabad’s continued importance in the real estate and business sectors.
