BRS raises concerns over ‘mortgaging’ land to raise ₹10,000 crore by Government

HYDERABAD

Spokesperson of the Bharat Rashtra Samithi (BRS) and former chairman of the Mineral Development Corporation, Manne Krishank, has alleged that the State Government had raised ₹10,000 crore by using (mortgaging) 817 acres of valuable government land as security.

Speaking to newspaper reporters in Hyderabad on Friday (October 10, 2026), he asked the government to disclose details of the land transaction, the valuation of the land and the agreements under which it was reportedly pledged. He said the public deserved clarity about government decisions involving land in areas including Hitec City, Miyapur, Shankarpally, Patancheru, Hayathnagar and Jawaharnagar.

Asking whether it was reasonable to value land in some of Hyderabad’s most valuable areas at about ₹15 crore per acre, he presented documents showing that the land parcels were assigned an aggregate market value of about ₹12,818.63 crore. He urged the government to release the valuation reports and explain how it determined the figures.

He referred to information indicating that HMDA-related bank balances had risen from approximately ₹275 crore as of 31 March 2026 to around ₹10,000 crore as of 30 June 2026. He demanded that the government clarify the source of these funds and publish the agreements and valuation reports connected with the reported fundraising.

“Why should Telangana’s public assets be pledged without the people being informed?” he sought to know. Raising concerns over the use of about 50 acres of land in Survey No. 12/P in Jawaharnagar, he said the land was allotted to Genpact in 2008 at ₹25 lakh per acre. He said a Genpact board was visible at the site, while a container belonging to KLSR Infratech had also been placed there and activity appeared to be underway.

He sought to know what was the process for identifying and pledging the 817 acres of land, where were the agreements and government approvals, which agency valued the land and why have the valuation reports not been made public, what were the details of the ₹10,000 crore raised in connection with HMDA and how the funds would be used.