make error: No such file or directory

I am new to kernel module development. So I started with simple hello world kernel module I am using "The Linux Kernel Module Programming Guide" book for the reference (it is addressing to kernel 2.6). I installed kernel-devel and kenel headers with yum. I am using fedora 17. I found that a symlink

/lib/modules/3.3.4-5.fc17.x86_64/build -> /usr/src/kernels/3.3.4-5.fc17.x86_64

Now, I have one hello-1.c (the simple kernel module and a Makefile in my working directory) The Makefile is:

obj-m += hello-1.o
all:
    make -C /lib/modules/$(shell uname -r)/build M=$(PWD) modules
clean:
    make -C /lib/modules/$(shell uname -r)/build M=$(PWD) clean

when in $make i get error:

make -C /lib/modules/3.3.4-5.fc17.x86_64/build M=/root/kerneldev modules
make: *** /lib/modules/3.3.4-5.fc17.x86_64/build: No such file or directory.  Stop.
make: *** [all] Error 2

I make same program on Centos-5.x it run successfully , because the /lib/modules/3.3.4-5.fc17.x86_64/build was containing the actual module (not a symlink). What should be problem ? why such difference?