After the Centre dropping hints that the creation of Telangana state is for sure, sources say property registrations in the Hyderabad and surrounding areas, dropped significantly for the last two months. This has dealt a big blow on the real estate market here.
It is being said that property registrations have dropped by 20% when compared to last year with registration and stamps department claiming the situation will be seen some more time till location of new state capital for Seemandhra is finalized.
At Sub-Registrar Office (SRO), Serlingamaplly, which covers area like Manikonda, Chandanagar, Vattinagulapally, Nallagandla and Taranagar and SRO, Uppal, whose jurisdiction spreads over Uppal, Boduppal, Medipally and Peerzadiguda the number of registrations has reportedly come down to 10 per day.
It is being said that since many property owners prefer to buy open for investment purpose, they may be waiting to reinvest the same amount in the new capital areas. This will also serve as a good option because the Seemandhra side may get a special state status.
