A section of the real estate lobby is reportedly working for the victory of the Congress in the second phase of elections scheduled to be held in Rayalaseema and coastal areas on April 23.
Hyderabad-based real estate companies opine that the construction industry in the twin cities will be the worst affected if the Telugu Desam-led Mahakutami comes to power in the state as it supports the separate statehood demand for Telangana. According to them, property transactions worth around Rs 5,000 crore was affected due to the elections as most of the people decided to postpone buying properties after the polls. They added that the rates would come down further in Hyderabad if the Mahakutami is able to form the government.
The real estate industry circles feared that such a situation will lead to a complete collapse of the sector which has already been affected due to recession. They said the industry would be put back on track only if the Congress forms the government in the state. The Chief Minister, Dr Y.S. Rajasekhar Reddy’s anti-statehood stand and remarks in Kurnool are cited as one of the main reasons for the builders lobby supporting the Congress in the elections. “Industries tend to protect their interests. In the current scenario, we have to support the Congress since it is the only party which can prevent Telangana,” said a realtor. Interestingly, the realtors supported the TD in the 2004 elections when the Congress had an alliance with the TRS.
According to sources, the realtors would extend their financial support to the “weak” candidates so that they can take on the Opposition parties. According to them, their victory is essential for the Congress as it is unlikely to get a majority in the first phase of elections.
The builders felt that the Mahakutami would win around 80 seats. “If the TD is able to get another 60-70 seats in the second phase, it would be a big problem not only for the Congress but also for construction industry. We hope that the Congress will get absolute majority in the second phase where the Telangana issue is likely to trouble the TD also,” said another builder.
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