Hyderabad News.Srisailam Highway posied to take off. A Business Standard Report

Hyderabad News.Srisailam Highway posied to take off. A Business Standard Report 

After a prolonged slump due to the global recession followed by political turmoil, Hyderabad''s realty market is once again set for an upswing. Hyderabad, with its buoyant and thriving economy and a dynamic workforce, is once again a favorable buyer''s market. The thriving IT/ITeS industry has given impetus to consumer trends, which is evident from the growing demand for residential, commercial and retail spaces in Hyderabad. When compared to the other metros, housing in Hyderabad is relatively affordable. Property prices here are almost 60 per cent of those of Bengaluru and Chennai. Due to political uncertainty, land prices in Hyderabad have remained stable. However, with political stability and creation of a new state of Telangana, Hyderabad can now expect large investments in its property market in the near future.

Srisailam Highway benefits from its close proximity to the Rajiv Gandhi International Airport. The area houses several developing regions such as Barkas, Venkatapuram and Tukkuguda. Being situated close to the TCS special economic zone (SEZ) at Adibatla, Srisailam Highway has a superb advantage. The TCS SEZ has become a prominent destination for Hyderabad''s thriving software industry, has a significant impact on the real estate profile of the region and has helped boost demand for residential apartments in the region. On the social infrastructure front, Srisailam Highway is well supplied with entertainment avenues, and the general and physical infrastructure of the region is adequate. ZAK International School of Excellence, VIP''s International School, Huda High School, Al-Qurmoshi Institute of Business Management and Pragati School of Nursing are a few renowned educational institutions dotting this highway. The presence of healthcare facilities such as Life Line Hospital, Al Madina General Hospital and Composite Hospital also add to the value of this well-defined residential catchment. With a number of SEZs planned along Srisailam Highway, the locality is developing at a very fast pace. Already, many developers have launched a wide spectrum of quality projects catering primarily to the middle-income segment. The area is witnessing a strong real estate activity, and there is appreciable demand in store in the years to come. Srisailam Highway is a perfect destination for long-term investment, and is perfect for those who are looking to invest in plot or built-up property at relatively affordable price points.

Snapdeal launches real estate shopping festival

Snapdeal launches real estate shopping festival 

Online marketplace Snapdeal today launched a week-long real estate shopping festival offering properties in a price range of Rs 20 lakh to Rs 5 crore. 

The shopping carnival called 'Freedom from Rent', to be held during January 14-20, will feature special project launches and exclusive offers from builders like TVS Emerald, Provident Housing, Runwal Group, Atul enterprises, Lavasa, Central Park, Ajanara Homes, Mahagun India and Gulshan Homz. 

With real estate sector facing .. 

Reduce your building's carbon footprint with renewable energy

Reduce your building's carbon footprint with renewable energy

Going green is not an alien term anymore. As environmental consciousness grows, every industry is gearing up to go green and embrace eco-friendly technology and methodologies.

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Many consumers who are sensitive to this issue are in fact pushing for this change by selectively buying from environment friendly businesses. The construction industry, too, is under pressure to move towards the challenging goal of carbon neutrality.

As a consequence, vertical expansion is becoming the norm with a slew of skyscrapers, each at least 25 storeys or over, coming up all over the urban landscape in India.

Carbon-neutral building

A building that has carbon emissions at a minimum or near zero in its construction, operational life, and, during the dismantling stage is considered as carbon neutral.

Emission reduction is important

Buildings produce around 40 percent of the greenhouse gases and carbon emissions. As per the NOAA (National Oceanic and Atmospheric Administration, USA) and EPA (Environmental Protection Agency, USA), the average global sea surface temperatures have risen in the past three decades since water bodies absorb the heat in the atmosphere. Therefore reducing the carbon footprint becomes imperative.

In construction, greenhouse gases and carbon footprint is a result of the construction materials used, use of machinery while constructing, inefficient HVAC (heating, ventilation, and air conditioning) solutions, indoor pollutants, and appliances. Since any construction activity, involves movement of soil, this produces carbon as a lot of the earth's carbon resources lie squeezed below the surface of the earth, which has an ecosystem of its own.

Construction stage

An intelligent method to achieve a lower carbon footprint is through 'SMART' building-construction practices. This entails proper planning like studying the landscape and ecosystem before construction. The building plan can look at locating high-occupancy areas on the northeast side so that these can benefit from good ventilation and natural lighting systems.

Service areas and low occupancy use areas can be located in the southern part of the plots. Building efficiently also means ensuring that the local vegetation and trees are protected.

LEED (Leadership in Energy and Environmental Design) certification is a rating system that awards buildings that are environ mentally responsible and use energy resources efficiently.

In India, too, we have a number of structures that have won Platinum LEED Rating, which is the highest recognition for buildings with low carbon footprint.

Renewable material

These buildings have been built with renewable material, generate more electricity than they use through solar panels, and have intelligent rainwater harvesting systems, low carbon emissions, and extensive plantation of trees. Energy dependence is also reduced through effective insulation, passive building design that employs ways to cool buildings without AC systems and vertical indoor gardens and use of natural lighting by an efficient combination of glass and steel.

What can you do to become the proud owner of a carbon-neutral home that protects the planet? Opt for energy-saving devices that have been rated by the Energy Star system. This will not only reduce your energy bills but also reduce your building's carbon footprint. Every step we take individually, however small, will help restore the environmental and ecological balance in our planet

Why Developers Launch Projects Even In Slow Market Conditions

Why Developers Launch Projects Even In Slow Market Conditions\

Top developers have a strategy of launching new projects even in a slow market, and there is sound logic behind this. There is always demand for residential projects at convenient locations and with good amenities. If the pricing of the project is also in line with what buyers are willing to pay, there is no reason why sales will not be generated.

Market research confirms that sales are taking place, even if it is at a slower rate. These sales are happening for the right kinds of projects – it is projects in the wrong locations, with fewer or the wrong kinds of amenities and with the wrong pricing that are finding no takers.

As a matter of fact, prices of projects have been showing a gradually decreasing trend over the last one year. Developers are offering lucrative deals and discounts on their projects, thereby helping to create end-user markets rather than just pandering to investors, as had been the trend in the past.

Overall, it can be said that the residential real estate industry has reached its lowest trough both with regard to prices and sales. The only change that can now come to the market is a positive one, and the graph will begin rising upward from here onward, not least of all because the Indian economy has strengthened and will continue to gain in strength going forward.

The government is also extending more support to the real estate industry than ever before, and the cumulative results of these favourable circumstances will definitely be seen from this year onward. With India makes strong strides on the path of development, interest in real estate investment is going to increase steeply over the coming years.

Today, cities still accommodate only about 40% of the population in India. But with increasing economic growth, more and more people will shift to urban areas, spawning more and more demand for homes in all price ranges. Developers who continue to launch their projects even while the market is slow are investing in this future.

If we take a closer look at the unsold inventory of residential real estate in India today, the numbers are undoubtedly large. Nevertheless, there is no shortage of new launches scheduled. In fact, we will see even more residential supply hitting the market in 2016 than we saw in 2015.

It is pertinent to note that most of the unsold projects in India today are the result of deficient planning on the part of their developers. They have chosen flawed or hopelessly futuristic locations where people are not interested in moving, and/or have included high-end amenities that drive up the overall cost beyond what buyers are willing to pay.

As we embark into 2016, we will see that the new residential launches are more aligned with the existing demand, both in terms of pricing and what they have to offer.

Rs 45,000-Crore Investment Scam

PACL Head Bhangoo Arrested Over Alleged Rs 45,000-Crore Investment Scam


Central Bureau of Investigation (CBI) on Friday arrested the founder of PACL Ltd over allegations the property company cheated investors of $6.8 billion (about Rs 45,000 crore), in what local media is calling the country's biggest financial scandal.

The arrest of Nirmal Singh Bhangoo comes 17 months after market regulator Sebi (Securities and Exchange Board of India) ordered PACL to return money to millions of investors, saying the company was running an illegal investment scheme.

The scheme promised depositors returns on investments in agricultural land, the regulator said.

PACL has argued it was selling land to customers and not investment schemes, and so was not subject to Sebi regulations.

Reuters did not get any response to phone calls to PACL's head office in New Delhi on Friday.

PACL founder Mr Bhangoo and three other company officials were arrested on Friday as part of the ongoing investigation into allegations of criminal conspiracy and cheating, said R K Gaur, a spokesman for the Central Bureau of Investigation.

The case involves alleged collection of about Rs 45,000 crore ($6.8 billion) from roughly 55 million investors across the country, Mr Gaur said, terming it a "Ponzi scheme case".

Regulators have stepped up scrutiny of unregistered investment products over the past two years, plugging regulatory loopholes that had long allowed unregulated entities to raise billions of dollars from small investors. Many people ended up losing their life savings in these schemes.

Subrata Roy, founder of conglomerate Sahara India, has spent the last 21 months in jail for not complying with a court order to return $5.4 billion (around Rs 36,000 crore) to investors who put money in a 2008-11 time deposit plan that was later ruled illegal.

Sahara's business empire includes overseas hotels such as the New York Plaza and a Formula 1 racing team.

Property bubble bursts as prices crash 20% in investor-driven markets

Property bubble bursts as prices crash 20% in investor-driven markets

Property bubble bursts as prices crash 20% in investor-driven markets

Real estate prices in investor-driven markets such as UP's Noida, Navi Mumbai, Ludhiana, Chandigarh andGurgaon's Dwarka Manesar Expressway have seen more than 10 percent pricecorrection due to all-around liquidity squeeze, dearth of buyers and erosion of investor faith in the property market.

In areas like Ulwe outside Mumbai where massive housing projects are coming up or already constructed, prices have remained flat as apartments here are unsold or have been bought by investors hoping to flip it for easy profit. The same is true for highly speculative markets such as Noida and Ludhiana too where there is a dearth of genuine buyers and investors are looking to exit from projects.

Today's Economic Times notes that the first signs of a bubble bursting in this investor market are finally here as a 1,100 sq ft apartment in Noida Extension that cost around Rs 42 lakh a few months ago can today be bought for around Rs 37 lakh, while a 1,200 sq ft apartment can be had for Rs 77 lakh compared with Rs 86 lakh six months ago near Gurgaon's Dwarka Manesar Express.

Quoting property agents in Gurgaon and Delhi, the report saysbuilders today are willing to throw in 10 percent discount. With a little bit of push, they are even offering get 5-6% worth of freebies such as free furniture or ACs, free parking or top-notch flooring etc in these investor-driven markets.


Apart from investor markets, property prices have plunged across 22 major cities, including Mumbai, Delhi, Bangalore, Chennai and Pune during the April-June quarter as developers battle with low sales and high inventory.

The National Housing Bank's Residex tracks movement in prices of residential properties on a quarterly basis. According to the index, during the period between April and June 2013 not only the tier I cities, but also the tier II cities witnessed a fall in prices.

" Investor-driven markets, especially in North India, are seeing a 20 percent correction in secondary sales as there is complete panic here since these apartments are not habitable. Developed areas, on the other hand, are seeing a price correction of around 10 percent in terms of discounts and freebies,"said Pankaj Kapoor, MD at real estate research firm Liasas Foras.

As Firstpost noted earlier, residential property in Kochi declined by 3.37%, Patna-3.29%, Coimbatore 3.26%, Ahmedabad 3.13%, Faridabad 2.42%, Chennai 2.26%, Jaipur 1.79%, Delhi 1.49% and Bhopal 1.30% during the June quarter.

And if you were to look at the sales figures, the reality is even more grim.

Data from property research firm Liasas Foras shows Mumbai saw the maximum inventory of unsold homes at 155.27 million square feet or 48 months of unsold inventory during the first quarter of FY14.For NCR, the inventory has more than doubled to 31 months in the first quarter of FY14, while for Mumbai it has risen from 17 months to 40 months.

Inventory denotes the number of months required to clear the stock at the existing absorption rate.

An ideal scenario implies inventory should be in the range of eight to 10 months. But Mumbai would take four years to sell these homes despite a slew of discount schemes, new launches and back-room negotiations.

Even Cushman & Wakefield suggests that more than 30% of houses under construction in Mumbai are priced at more than Rs 1 crore.

"The quarter April-June was subuded for the real estate market and possibly one of the worst quarters in terms of sales across cities. A combination of discounts and flexible pricing is keeping up the sales in the past few months," noted Pankaj Kapoor of Liases Foras.

Clearly an artificial price rise has been created to accommodate investors at each stage of construction, which is no longer sustainable. Oversupply and overpricing have reached a point that has made it inevitable for the prices to soften.

"More than 40 percent of the buyers in Mumbai's property market are investors. Noida is even worse and akin to a ghost town. Today, all investors are are looking to cash out as more appreciation is just not possible. But their money is stuck since there are no genuine buyers at this price point and the rupee has tanked to 65 against the dollar from 43-45 when these investments were made," an industry veteran told Firstpost on condition of anonymity.

In other words, with a depreciating rupee and high inflation,the cost of money has gone up and the chances of making money in the short-term are not very bright, which is why investors are no longer ready to pump in money.

And with 2013 marking the exit of private equity, a distress sale in the real estate industry cannot be ruled out.

Expecting an endgame to speculative real estate prices, Manish Bhandari of Vallum Capital in a recent report titled 'Valuenomics" says a 'large increase in asset price is followed by a higher demand, as investors think that further increases in prices will follow. This "super-exponential" acceleration in prices due to a positive feedback (or "pro-cyclicality") leads to formation and then maturation of a bubble, which has happened in case of the Real Estate prices in India.'

He expectsa price correction of more than 40% and thereafter time correction for another four to five years as during this period banks are likely to deleverage their balance sheet, stomped by losses, while investors will shy away from further investments and genuine buyers would emerge to clear excess inventory.

"The previous deleveraging cycle in 1997-2003 saw real estate prices correct by 50 per cent in Mumbai Metro Region. Add to that the likely exit of PE players. ..Unless government deflates the housing bubble in orderly manner; the aftermath and reverberating effect of collapse by market mechanism will surprise a generations on how a nation was making its way to prosperity by speculating on a piece of land and eventually lost a fortune," adds Bhandari.

Hyderabad Beats Realty Slowdown as Housing Sales Rise 67%

Hyderabad Beats Realty Slowdown as Housing Sales Rise 67%: JLL India

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New Delhi: Housing sales in Hyderabad rose 67 per cent to 7,000 units during the period between October 2014 and September 2015 on improved demand from both end-users and investors after formation of Telangana, says a report by property consultant JLL India. 

Housing sales stood at 7,000 units during the fourth quarter of 2014 to the third quarter of 2015 as against 4,200 units in the year-ago period, JLL India said. 

"After creation of new Telangana state and Hyderabad's status as joint capital, the end-users demand as well as investors sentiment has improved, resulting in an increase in sales," JLL India national director-research Ashutosh Limaye said when asked about the rise in sales despite overall slowdown in the real estate market.

Going forward, he said, sales would remain robust with a reasonable price rise.

"As the city moved past the global financial crisis and later, the formation of Telangana, developers are no longer holding back launches and buyers are also returning to the market," the report said.

JLL said there has been a significant increase in the number of units launched. In the last three quarters alone, launches have picked up strongly, increasing by more than 1.5 times since last year.

"Moreover, improved economic activity seen during the last six months has led to a better market sentiment. Corporates are also coming in as the political environment has improved," it added.

The capital values have also witnessed a significant rise in Hyderabad of about 5-10 per cent year-on-year, after many years of seeing sub-5 per cent rate of appreciation. 

The city is likely to witness further price rise going forward, given its good quality of life and state-of-the-art infrastructure, the consultant said.

"As the government goes all out to bring investments, heightened economic activity can be expected to further bolster the residential realty market," the report said.

Ten cities to shop for budget real estate in India


Ten cities to shop for budget real estate in India

The government’s initiative to provide ‘Housing for All by 2022’ is being pursued laboriously.

Ten cities to shop for budget real estate in India

India’s cities draw the most housing demand for reasons like better job opportunities, living standards and infrastructure.

However, rapid urbanisation and development of these cities into mega-cities have given rise to challenges such as pollution, traffic issues, high property prices, etc.

The government’s initiative to provide ‘Housing for All by 2022’ is being pursued laboriously. The simple motive is to provide affordable homes within the price budget of up to Rs 25 lakh. This vision must necessarily encompass the smaller cities near the bustling cities of India.

Though affordability is a relative term, it is pertinent to look destinations where residential properties within the budget range of Rs 30-50 lakh are available, and are classified either emerging or growing submarkets supported by good infrastructural development. These towns and cities offer a wide spectrum of investable options in real estate with relatively lower price levels, providing the incentives for future capital appreciation and healthy returns.

Here are 10 cities that offer great lower-budget real estate investment prospects over mid- to long-term

Hyderabad, Telangana After a prolonged slump due to the global recession followed by political turmoil, Hyderabad’s realty market is now once again set for an upswing. Hyderabad, with its buoyant and thriving economy and a dynamic workforce, is once again trending as a buyer’s market. The IT/ITeS industry has given further impetus to the real estate consumer trend, which is evident from the growing demand for residential, commercial and retail spaces.

Pune, Maharashtra The perfect blend of Pune’s manufacturing and services sectors makes the city a standalone economic powerhouse in all respects, with a rate of job generation that is hard to match. The city has witnessed steady appreciation over the last few years, and is ranked as one of the best markets for real estate investment. The luxury homes segment has been burgeoning on the Pune’s real estate market, with many large players entering with excellent luxurious projects. However, Pune is now witnessing a slight shift in the development trend. Many new players on Pune’s burgeoning real estate market can be seen venturing into the affordable housing segment. This is obviously the segment where the greatest demand lies. Navi Mumbai, Maharashtra Over the last few years, the real estate market in Navi Mumbai and surrounding areas have shown impressive growth, largely because of the planned approach taken towards development. Now, with Navi Mumbai receiving final nod for the International Airport, its property market and that of the surrounding areas have been showing great potential. While property prices have increasingly become unaffordable in Mumbai, Navi Mumbai still provides numerous options for residential housing within the budget of Rs 30-50 lakh. Jaipur, Rajasthan Emerging out of its image of being a majorly tourism-led economy; Jaipur has grown beyond everyone’s expectation to become one of the top global outsourcing cities in India. The upcoming IT Parks promise a great future across all real estate asset classes. The 250-kilometer stretch between Delhi and Jaipur has become a hotbed for real estate development, with areas like Manesar, Dharuhera, Bhiwadi, Neemrana, Kotputli and Alwar becoming the new catchwords for investors. Surat, Gujarat Surat, known as the diamond capital of the world, is a well-developed metropolis in Gujarat. Rated as one of the fastest growing cities of the world and also recently conferred with ‘Best Urban City of India’ award, Surat has also gained prominence and recognition for being the Cleanest City in India by INTACH. Rapidly improving infrastructure initiatives have helped modernise Surat significantly. Ghaziabad, NCR Ghaziabad is an emerging residential neighbourhood of NCR which has a very high supply of residential properties in the budget of Rs 30-50 lakh. Well connected via Metro and roads to the job markets of Delhi-NCR, the city caters largely to the mid-segment home buyers. The city has a high supply of ready-to-move-in properties offered by renowned developers. Some of the well-established residential clusters in Ghaziabad that have gain prominence in the recent time include Indirapuram, Kaushambi and Vaishali. Nagpur, Maharashtra Although a city with extreme climatic conditions, Nagpur is one of the fastest-growing cities in India. Nagpur’s main claims to fame include its MIHAN and SEZ projects. However, with the Devendra Fadnavis-led BJP government taking keen interest in turning Nagpur into the next IT hub of Maharashtra, the city is set for a major transition in its real estate profile. The already-established MIDC corridor along with the upcoming IT parks have made Nagpur one of the cities that bear close watching by real estate investors. Kochi, Kerala Kochi is a metropolis in the making where modern urban lifestyles are settling into antiquated old traditions. During the days of its realty boom, Kochi grew exponentially, with more people migrating to the city and consuming even the outlying catchments of Palarivattom, Vytilla, Kakkanad, Edappally and Kadavanthra. Development of IT/ITeS projects such as the Kochi Smart City and initiatives to channelise traffic and improve connectivity, such as the Mobility Hub at Vytilla, have fuelled significantly increased demand for real estate, which more and more developers are cashing in on. Coimbatore, Tamil Nadu Coimbatore is the major industrial centre in Tamil Nadu after Chennai — and as incentives are given to IT companies by the Tamil Nadu government, Coimbatore has gained momentum as a preferred destination for IT/ITeS. With the government in power promoting the city by enhancing infrastructure development, Coimbatore’s property market has witnessed an upward push in demand for residential units in the core areas of the city such as R S Puram, Avinashi Road and Race Course, which are considered posh areas. Nevertheless, it has no shortage of affordable housing options. Coimbatore is a market where 40 per cent of real estate investments come from investors living in cities such as Bengaluru, Cochin and Chennai. Apart from the demand from professionals engaged in IT/ITeS, Coimbatore is emerging as a retirement destination, and demand for 2 BHK homes is high from senior citizens. Demand for smaller apartments is primarily from young IT professionals, while villas and row houses see demand from NRIs, retirees and IT professionals with a preference for such properties. Ahmedabad, Gujarat Ahmedabad may be the last one in the list, but it is in no way the least. With the city being a prime example of organised and fast-paced development for the rest of the cities in India, Ahmedabad has come a long way. With huge investments pouring into the state, rapid infrastructural development in the form of bullet trains, GIFT Smart City, the entrepreneurial nature of the population and a supportive, stable government, everything is going right for Ahmedabad. The oil, gas and energy industries, petro-chemical industries and automobile manufacturing industries are some of the major factors driving perennial demand for real estate in the city. 

Call for inclusion of green agenda


Arguing for urban development without environmental degradation, a group of civil society activists called for inclusion of a green agenda in manifestos of political parties for the forthcoming GHMC elections.

Addressing media persons here on Tuesday under the aegis of Council for Green Revolution, the activists said they are reaching out to all political parties to include some or all of the environmental issues raised. These include water, transport, green spaces, waste disposal and sewerage treatment among others.

“Our plan is to take these suggestions to different parties and have them included in their manifesto. If parties do not do it, we will take up activities to pressurise the elected bodies to take up these suggestions,” environmentalist Prof. K. Puroshotham Reddy, said. The council’s 68-point agenda includes localisation of water management, regulation of ground water use, recycling waste water, waste segregation at household level and preventing aggregation, promoting environment friendly commute including cycling and protecting lakes from inflow of sewerage and encroachment.

The activists have also called for restricting the role of HMDA to planning and a social audit of accounts of public service bodies like HMWSSB. He informed that the manifesto has been taken to BJP, CPI(M), AAP and Lok Satta. They will also approach other parties including Congress and TRS, he added.

The council also demanded scrapping of a government order issued on January 5 this year which scrapped an earlier provision that mandated real estate developers set aside some space in layouts for economically weaker sections and lower-income groups.

We developed city: Naidu

hyerabad: Kicking off campaign for the TDP-BJP combine for the upcoming GHMC elections, Telugu Desam Party chief and AP CM Chandrababu Naidu on Tuesday claimed credit for the `all-round development' of Hyderabad.

Naidu, while restraining himself from openly criticizing the TRS government at a public meeting at the Nizam College Grounds here on Tuesday evening, said it was the TDP government in unified AP that turned the city into an information technology hub and an attractive destination for investments. He said he was never against the bifurcation of Andhra Pradesh, but wanted it to be done in a manner that would not hurt either of the successor states.

"Hyderabad is the strong hold of the TDP-BJP combine where we won 14 out of 24 assembly seats in the last general elections. If we work together, we can win the GHMC polls," Naidu told the large gathering of TDP and BJP workers.


Naidu's first public meeting in Hyderabad assumes po litical significance as it comes close on the heels of the increasing bonhomie between Telangana and AP after the two Telugu states fought bitterly over the issue of controlling law and order in the common capital of Hyderabad.


"As I have said earlier, Telangana and Andhra Pradesh are like two eyes for me. Both Telangana and AP have to prosper. The NDA government at the Centre, TDP government in AP , and TRS government in Telangana are ready to work hand in hand. By working to gether we can achieve development of both the states," the AP CM said.


Naidu said he would visit Hyderabad regularly to ensure safety and security of all sections of society in the city ."There has been a false propaganda that I would never visit Hyderabad. I am hereby assuring you that I will visit the city regularly. Also, you can approach me if you feel threatened or unsafe in Hyderabad any time," he added. Lokesh, addressing his first public meeting in Hyde rabad, said the TDP-BJP combine was responsible for turning Hyderabad into a `global city'. Exuding confidence over the alliance's prospects in the GHMC elections, he said chief minister K Chandrasekhar Rao promised two-bedroom houses for the poor. "Where are the houses? KCR is a leader who forgets his promises, while Chandrababu Naidu is a leader who fulfils his promises."


TDP legislator Revanth Reddy said that if the TRS wins 100 seats in the elections as claimed by IT minister K T Rama Rao, then "I will leave Telangana. I am accepting KTR's challenge that he would resign if the TRS fails to get 100 seats. I expect him to honour his words."

Union minister Bandaru Dattareya, Telangana BJP president G Kishan Reddy also addressed the gathering.