HYDERABAD: BRS working president KT Rama Rao on Friday alleged that the State government was attempting to execute a “colossal Rs 5 lakh crore land scam” under the newly introduced Hyderabad Industrial Lands Transformation Policy (HILTP).
He claimed that over 9,200 acres of prime industrial land parcels, valued between Rs 4 lakh crore and Rs 5 lakh crore, were being allotted to select individuals following a recent State Cabinet decision.
Speaking to reporters a day after the Governor gave consent to prosecute him in the Formula E Race case, Rama Rao accused Chief Minister A Revanth Reddy of formulating the new policy to benefit “a network of politically connected middlemen, relatives, and real estate groups close to the Chief Minister”.
Calling it “the biggest land scam in the history of the country”, he alleged that the policy was crafted solely to facilitate private gain at the expense of public land.
Rama Rao said the Congress government had presented the HILTP as a land regularisation and transformation initiative, but in reality, it was “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,” he alleged. “Under the guise of industrial land regularisation, Revanth Reddy has initiated the largest land scam India has ever witnessed,” he said.
He stated that the policy sought to regularise nearly 9,292 acres of prime industrial clusters in areas such as Balanagar, Jeedimetla, Sanathnagar and Azamabad.
Given the current open-market value of these lands, estimated at Rs 40 crore to Rs 50 crore per acre, the total valuation stood at between Rs 4 lakh crore and Rs 5 lakh crore, he said.
“Revanth Reddy is attempting to hand over these lands for just 30% of the government’s outdated SRO rate,” he alleged. He added that regularising such high-value land at only 30% of the SRO rate, which is already four to five times lower than the real market price, was clear evidence 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.
Rama Rao recalled that industrial lands were originally allotted at very low or subsidised rates to promote employment and economic activity, and in many cases, the lands were acquired from farmers for industrial purposes.
“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 alleged.
He said he had rejected similar proposals from brokers and landowners during the BRS regime because “public land cannot be given away cheaply for private benefit. We stopped it then, but Revanth Reddy is doing exactly what we resisted”.
He also expressed suspicion over the “extraordinary speed” allegedly involved in processing applications under the policy, applications within seven days, approvals within seven days, and full regularisation within 45 days.
“Why this lightning speed? Why this rush?” he asked. He alleged that the Chief Minister’s brothers, followers and middlemen had already entered into pre-arranged agreements for these lands, claiming that deals were struck even before the policy received final approval.
Terming the HILTP an “ATM for the Congress party”, Rama Rao alleged that the Chief Minister was 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 alleged, adding that the policy served the interests of the Chief Minister’s close aides.
Rama Rao warned industrialists and developers planning to enter into deals under the HILTP that the lands would be taken back if the BRS returned to power.
“The BRS government will reverse the regularisation, initiate a full-fledged inquiry and ensure criminal action against everyone involved in the scam,” he declared. He demanded the immediate withdrawal of the HILTP policy.
He suggested that if the government had sincerity, it would reclaim 50% of the land for public welfare and auction the rest, as is done in metropolitan cities such as Mumbai, to maximise public revenue.
“Instead of auctioning the land and filling the state exchequer, Revanth is attempting to loot ₹5 lakh crore and put at least ₹50,000 crore into his own pocket,” he alleged. He also stated that the party would take legal recourse against the policy.
“I DID NO MISTAKE”: KTR
On the Formula E Race case, Rama Rao said he had done nothing wrong and that the law would take its own course. “I have said 100 times in the past that I did nothing. I have even prepared for the lie-detector test,” he said.
He alleged that a joint-venture government of the BJP and Congress was running the state and that Central government agencies were not taking any action on the alleged irregularities committed by the Revanth Reddy government.