CRDA rules spur real estate business in Hyd

Vijayawada, Oct 05: Certain decisions taken by the AP government have given a boost to real estate business in Hyderabad. After the bifurcation of state, real estate business in Hyderabad almost came to a grinding halt, as investors eyed AP capital region. The AP government has recently decided not to allow any construction activity within 500 metres of villages and municipalities in the capital region and the rule benefited real estate sector in Hyderabad. Besides this, some areas in the capital city are exclusively reserved for agricultural zones thereby leaving no scope for the realtors to invest in the area. The realtors recently met CRDA officials and asked them to change the cumbersome rules. Realtors and locals thought that many new buildings will come up in the surroundings of Vijayawada and Guntur but the new rules have dashed their hopes.