In a major shock to Telugu film industry, Telangana government to auction 15 acres of prime land in Banjara Hills. This land was allotted to AP State Film Development Corporation in 1991 for the development of the film industry in Hyderabad.
Back then, 35 acres are allotted and Telangana government had taken back 16 acres of land which is yet to be utilized. One acre of this land is allotted to Kerala Bhavan and TRS government wants to earn 600 Crore from the remaining land at the price of 40 Crore per acre.
The government had announced that this money will be used to fund the construction of 2BHK houses to the poor in the city but industry biggies are shell shocked by the move of the government which claims itself to be most friendly to the film industry.