Andhra Pradesh: TDP Leader Alleges Rs 1,000 Crore Land Scam By YSRCP Leader In Visakhapatnam

Bandaru Satyanarayana Murthy claimed that the TDP had documentation to back up the accusations and called for a CBI investigation

TDP leader Bandaru Satyanarayana Murthy ( Image Source :ABP Desam )

Senior TDP leader and former Andhra Pradesh Minister Bandaru Satyanarayana Murthy on Sunday alleged ruling YSRCP leaders of Rs 1,000 crore land scam. The former AP minister alleged that survey number 336 of Madhurawada in Visakhapatnam was at the order of the family members of state CM YS Jagan Mohan Reddy.

Speaking to the media on Sunday, Satyanarayana Murthy claimed that the TDP has proof to back up the accusations and called for a CBI investigation. The land TDP leader mentioned has been subject to controversy since 2003. After paying Rs 93 crore on the court's order as part of arbitration in 2019, Ramesh Kumar Banguri of Radiant Developers was due to receive 50 acres of land, said Satyanarayana. 

Satyanarayana said that Ramesh had been forced to sign an MoU regarding the development of the land at survey number 336 in Madhurawada by YSR Congress Party leader and MP Vemireddy Prabhakar Reddy. He further claimed that Ramesh was forced to accept a 70:30 profit split from the sale of villas, which would have given Ramesh 30 per cent of the proceeds and Prabhakar Reddy, the developer, 70 per cent.

Based on the property valuation in Madhurawada, the TDP leader said that Prabhakar Reddy would have made a profit of Rs 1,000 crore. The agreement was to construct villas on 32 acres. Additionally, Satyanarayana claimed that advertisements for the sale of villas were published under the name of Capital Luxx, which is not a partner in the project.

Prior to Prime Minister Narendra Modi's visit to Visakhapatnam, he said that they would give all the records pertaining to the scam to BJP MP GVL Narasimha Rao, who is demanding a CBI investigation into this issue. He also urged that the CBI should look into land scams in the city.

(With inputs from ABP Desam — It is a Telugu platform of ABP News. For more news, commentary and latest happenings from two Telugu states, follow https://telugu.abplive.com/)