'Telangana issue will not hit realty prices'

The real estate prices in Hyderabad will not crash due to the separate Telangana issue, according to M Murali Mohan, former president of the Andhra Pradesh Real Estate Developers Association (APREDA) and chairman of Jayabheri Properties Private Limited.

"It is true that the boom has slowed down, but the real estate prices are unlikely to crash. The Telangana issue will not show any negative impact on the real estate growth, and it is expected to gain momentum gradually by March this year," he said.

Addressing mediapersons here on Tuesday, he said that APREDA had constructed a colony for tsunami victims at Binginapally in Prakasam district, which was inaugurated by chief minister YS Rajasekhara Reddy from his camp office today.

"The association has constructed 50 houses for the tsunami victims at the village at a cost of around Rs 40 lakh, with equal contribution from 50 association members. The houses will be handed over to the beneficiaries in the third week of February 2007," he said.

Identification of victims and allotment had been done by the local public representatives. He said a couple had donated two acres of land for construction of houses for the tsunami victims, he added.