KT Rama Rao.
Credit: PTI Photo
Hyderabad: A day after Telangana governor have his nod to ACB to prosecute him BRS Working President KT Rama Rao on Friday leveled grave accusations against Telangana Chief Minister A Revanth Reddy, alleging that the Chief Minister is attempting to execute a colossal Rs 5 lakh crore land scam under the newly introduced Hyderabad Industrial Lands Transformation Policy (HILTP).
Describing the move as "the biggest land scam in the history of India," KTR strongly asserted that the policy was designed solely to benefit a network of politically connected middlemen, relatives, and real estate groups close to the Chief Minister. Talking to reporters on Friday KTR said that the HILTP, presented by the Congress government as a land regularization and transformation initiative, is, in reality, a deliberate strategy to convert thousands of acres of high-value industrial land into multi-use real estate at deeply discounted rates. "This is not just a policy; it is a blueprint for a Rs 5 lakh crore scam," KTR alleged. "Under the guise of industrial land regularization, Revanth Reddy has initiated the largest land scam India has ever witnessed," he said.
The BRS leader disclosed that the policy seeks to regularize nearly 9,292 acres of prime industrial clusters in key areas like Balanagar, Jeedimetla, Sanathnagar, and Azamabad. Given the current open market value of these lands estimated at Rs 40 to Rs 50 crore per acre the total market value stands between Rs 4 lakh crore to Rs 5 lakh crore.
"Revanth is attempting to hand over these lands for just 30% of the government’s outdated SRO rate," KTR lashed out while market value of them is multiple times higher. He emphasized that the move to regularize high-value land at only 30% of the SRO rate which is already four to five times lower than the true market price is clear evidence of corruption, he said. "Even the SRO value is not being collected fully. Only 30% is being taken. The remaining lakhs of crores will directly benefit private pockets," he alleged.
KTR reminded the public that industrial lands were historically allotted at very low or subsidized rates to promote employment and economic activity. In many cases, these lands were acquired from farmers specifically for industrial purposes. "The intention was to create jobs and boost production. But now, those very lands, acquired from the people, are being regularized for private profit," he said. KTR recalled rejecting similar proposals from brokers and landowners during the BRS regime. “Public land cannot be given away cheaply for private benefit. We stopped it then, but Revanth is doing exactly what we resisted," he said.
KTR raised deep suspicion over the "extraordinary speed" at which the policy is being processed. Applications in 7 days, approvals in 7 days, and full regularization in 45 days. "Why this lightning speed? Why this rush?" KTR questioned regarding a matter worth lakhs of crores. He alleged that Revanth Reddy’s brothers, followers, and middlemen have already entered into pre-arranged agreements for these lands, claiming that deals were struck even before the policy received final approval.
KTR also issued a stern warning to industrialists and developers entering into deals based on the HILTP. "Industrialists who purchase land under this policy will face serious legal troubles in the future. These transactions will not stand. The land will be taken back," he said and stated that the BRS government, upon returning to power, will reverse the regularization, initiate a full-fledged inquiry, and ensure criminal action against everyone involved in the scam.