Deputy Chief Minister Mallu Bhatti Vikramarka ridiculed the opposition parties’ efforts to undermine the real estate sector in Hyderabad, and asked if that was true why would companies buy an acre of prime land at ₹177 crore.“In a recent government land auction, an acre fetched ₹177 crore, and it shows how fast real estate in Hyderabad is soaring. Around 25 builders participated, quoting bids up to ₹150 crore per acre,” he said speaking at the 15th convention of NAREDCO (National Real Estate Development Council) held at HITEX on Friday.Mr. Vikramarka said the government has been allocating ₹10,000 crore annually from the budget towards urban development. Over the past two years, ₹20,000 crore worth development works have been taken up and their impact is now becoming visible. These projects will transform the very landscape of Hyderabad, he asserted.Recently, approval was given for 39 STP (Sewage Treatment Plant) projects. About ₹11,927 crore is being spent on sewerage plants and drinking water facilities, and another ₹13,704 crore worth of proposals are under consideration. In total, around ₹25,631 crore is being invested in improving sewerage and drinking water supply systems, he explained.He also stated that an elevated corridor from Paradise Junction to the National Highway is being constructed at a cost of ₹1,487 crore, he informed. Chief Minister A. Revanth Reddy personally camped in New Delhi and convinced the Union Defence Minister to permit the use of defence lands for public purposes, he added. Similarly, in Shamirpet, road widening works worth ₹3,619 crore were in progress.Mr. Vikramarka, however, reminded that builders must keep in mind the needs of middle and lower-middle-class families when they design projects.Tourism Minister Jupally Krishna Rao appealed to the builders and realtors to become partners in the State’s tourism development adding that Telangana was blessed with huge tourism potential in the form of dense forests, waterfalls and tiger reserves.He also reminded that hospitality was ingrained in Telangana culture and with international connectivity Hyderabad coupled with strong infrastructure, realtors should promote the city for investments and also tourism.Published - October 10, 2025 09:32 pm IST