With AP Chief Minister N Chandrababu Naidu almost threatening AP employees currently working in Hyderabad to shift towards AP's new capital Amaravati by the 2nd of 2016, most of AP employees owning houses and plots in Hyderabad have reportedly started placing them
for sale.
The Golconda fort
AP employees seem to be in a hurry to sell their properties in Hyderabad over fears that these would be later encroached upon in case they simply leave their properties or even rent them. The state governments in the past during united state had allotted plots for them in areas like Gachibowli, Shamirpet and Neknampur near the Golconda fort many decades ago.
All these areas are now very expensive due to realty boom in Hyderabad after the IT corridor and other projects. Some of the employees have built houses while some of them left plots vacant and rest are under construction.
The AP employees are complaining that even the banks are no longer sanctioning them any loans and they are now worried about recovering their investments in case they sell these properties in a hurry. Meanwhile the Telangana employees are exploiting this situation by making them agree to dispose them soon at lower rates!
