Under the guise of industrial land regularisation, Revanth Reddy had initiated the largest land scam India had ever seen, KTR alleged.
In a sensational political attack, BRS working president K T Rama Rao today levelled serious allegations against Telangana Chief Minister Revanth Reddy, claiming that the Chief Minister was attempting to execute a massive Rs 5 lakh crore land scam under the newly introduced Hyderabad Industrial Lands Transformation Policy (HILTP).
Calling it the biggest land scam in the history of India, KTR alleged that the policy was crafted to benefit a network of politically connected middlemen and real estate groups close to the Chief Minister, and the latter's relatives.
Addressing the media at Telangana Bhavan, KTR said that the HILTP - projected by the Congress government as a land regularisation and transformation initiative - was, in reality, a calculated plan to convert thousands of acres of high-value industrial land into multi-use real estate at heavily discounted prices.
"This is not just a policy; it is a blueprint for a Rs 5 lakh crore scam. Under the guise of industrial land regularisation, Revanth Reddy has initiated the largest land scam India has ever seen," KTR alleged.
He said that the policy sought to regularise nearly 9,292 acres of prime industrial clusters in areas such as Balanagar, Jeedimetla, Sanathnagar and Azamabad. With the open market value estimated at Rs 40-50 crore per acre, the total value ranged between Rs 4 lakh crore and Rs 5 lakh crore, he said.
"Revanth Reddy is trying to hand over these lands for just 30% of the government's outdated SRO rate. The actual market value is multiple times higher," KTR said.
KTR said that regularising such high-value land at only 30% of the SRO rate - which was already four to five times lower than the true market price - was a clear indicator of corruption. "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.
He told that the public that industrial lands were historically allotted at low or subsidised rates to promote employment and economic activity, often acquired from farmers specifically for industrial use.
"The intention was to create jobs and boost production. But now, those very lands, acquired from the people, are being regularised for private profit," he lamented.
KTR added that he had rejected similar proposals from brokers and landowners during the BRS regime because public land could not be given away cheaply for private benefit. "We stopped it then, but Revanth Reddy is doing exactly what we resisted," he said.
Calling HILTP an ATM for the Congress, KTR accused the Chief Minister of prioritising real estate interests over governance. "First, it was Musi riverbed lands, then Metro Rail lands, then University of Hyderabad lands, and now 9,292 acres of industrial lands. Revanth is proving that his only vision is real estate," he said, reiterating that the Chief Minister is "surrounded by land dealers" and pushing the policy to benefit his close aides.
KTR warned industrialists and developers entering into transactions under HILTP that a future BRS government would reverse the regularisation, initiate a full-fledged inquiry, and ensure criminal action against all those involved.