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 major land scam in the name of Hyderabad Industrial Lands Transformation Policy (HILTP), through which it’s being planned to siphon off ₹5 lakh crore by regularising industrial lands at throwaway rates.

“Mr. Revanth Reddy is attempting to execute a colossal ₹5 lakh crore land scam under the newly introduced HILTP. It’s a biggest land scam in the country’s history,” Mr. Rama Rao said while addressing a press conference here on Friday.

He asserted that the policy was designed purely to benefit a network of politically-connected middlemen, relatives and real estate groups close to the Chief Minister and make huge money in the form of commissions and kickbacks..

The BRS leader stated that HILTP, introduced by the Congress Government as a land regularisation and transformation initiative, was, in reality, a deliberate strategy to convert thousands of acres of high-value industrial lands into multi-use real estate at deeply discounted rates. It was not just a policy but it was a blueprint for ₹5 lakh crore scam, he alleged.

Under the guise of industrial land regularisation Mr. Revanth Reddy had initiated the largest land scam India had ever witnessed, Mr. Rama Rao said and disclosed that the policy seeks to regularise nearly 9,292 acres of prime industrial clusters in key areas such as Balanagar, Jeedimetla, Sanathnagar and Azamabad. Given the current open market value of these lands, an estimated ₹40 to ₹50 crore per acre, the total market value would stand between ₹4 lakh crore to ₹5 lakh crore.

The Chief Minister was conspiring to hand over the prime lands for just 30% of the government’s outdated SRO rate, Mr. Rama Rao said, adding that their market value was multiple times higher.