KTR accuses CM of conspiring to give away high-value industrial land at cheap rates

HYDERABAD

Working president of the Bharat Rashtra Samithi (BRS) K.T. Rama Rao has accused Chief Minister A. Revanth Reddy of unveiling a large onshore scam successful the sanction of Hyderabad Industrial Lands Transformation Policy (HILTP), done which it’s being planned to siphon disconnected ₹5 lakh crore by regularising concern lands astatine throwaway rates.

“Mr. Revanth Reddy is attempting to execute a colossal ₹5 lakh crore onshore scam nether the recently introduced HILTP. It’s a biggest onshore scam successful the country’s history,” Mr. Rama Rao said portion addressing a property league present connected Friday.

He asserted that the argumentation was designed purely to payment a web of politically-connected middlemen, relatives and existent property groups adjacent to the Chief Minister and marque immense wealth successful the signifier of commissions and kickbacks..

The BRS person stated that HILTP, introduced by the Congress Government arsenic a onshore regularisation and translation initiative, was, successful reality, a deliberate strategy to person thousands of acres of high-value concern lands into multi-use existent property astatine profoundly discounted rates. It was not conscionable a argumentation but it was a blueprint for ₹5 lakh crore scam, helium alleged.

Under the guise of concern onshore regularisation Mr. Revanth Reddy had initiated the largest onshore scam India had ever witnessed, Mr. Rama Rao said and disclosed that the argumentation seeks to regularise astir 9,292 acres of premier concern clusters successful cardinal areas specified arsenic Balanagar, Jeedimetla, Sanathnagar and Azamabad. Given the existent unfastened marketplace worth of these lands, an estimated ₹40 to ₹50 crore per acre, the full marketplace worth would basal betwixt ₹4 lakh crore to ₹5 lakh crore.

The Chief Minister was conspiring to manus implicit the premier lands for conscionable 30% of the government’s outdated SRO rate, Mr. Rama Rao said, adding that their marketplace worth was aggregate times higher.