Hyderabad is witnessing a major political storm as BRS leader and former minister KT Rama Rao has made explosive allegations of a massive land scam worth Rs 5 lakh crore against the current Congress government led by Chief Minister Revanth Reddy.
The Allegations: A Massive Financial Scandal
KTR, as he is popularly known, has accused the state government of attempting to hand over valuable industrial lands for just 30% of the government's outdated SRO rates. The market value of these lands is reportedly multiple times higher than the proposed selling price, potentially causing enormous losses to the state exchequer.
The allegations center around the Hyderabad Industrial Lands Transformation Policy, which KTR claims is being used as a vehicle for this massive financial irregularity. The former minister made these serious charges during a press conference, lashing out at what he described as one of the biggest land scams in the state's history.
Political Fallout and Market Value Concerns
According to KTR's detailed accusations, the current administration is deliberately undervaluing prime industrial lands that have significantly appreciated in value over time. The estimated scale of the alleged scam stands at a staggering Rs 5 lakh crore, a figure that has sent shockwaves through political and business circles in Telangana.
The timing of these allegations is particularly significant, coming at a time when the state government is pushing for industrial development and foreign investments. KTR emphasized that while his government had always ensured transparent land allocation processes, the current administration appears to be following a different path that could potentially benefit private players at the cost of public wealth.
Government's Response and Future Implications
As of now, the state government has not issued an official response to these serious allegations. However, political observers expect this to become a major flashpoint in the state's political landscape, with the opposition BRS likely to intensify its campaign against the Congress government.
The allegations raise important questions about:
- Transparency in land allocation policies
- Valuation methods for government lands
- Protection of public assets
- Industrial development priorities
This development marks one of the most significant political confrontations since the Congress party came to power in the state. The outcome of this controversy could have far-reaching implications for Telangana's industrial growth and investment climate.
As the situation develops, all eyes are on the state government's response and whether any official investigation will be initiated into these serious allegations made by the former minister.
