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“If the investors in Hyderabad shift to AP, Telangana state will face a big jolt, particularly in terms of revenue generation from the property registrations,” an official said.

Officials of the Registration & Stamps Department also concede that growth in real estate has not gained traction in the last three years due to various factors, including HYDRAA impact, economic slowdown, and certain political reasons.

Now, the AP government is drawing big plans to promote Amaravati as a destination for investments. Major realty companies which had announced high rise projects in Hyderabad may shift some of them to the neighbouring state if the Andhra government announces, in the coming days, comparatively better incentives to promote construction. Officials warned: “It may not be an easy task to convince real estate developers to stay in Hyderabad and develop their ventures at this critical juncture”.

The state government would do well to hold a meeting with representatives of the realty soon to discuss the issues involved in the context of planned investments in the city, they added.