KTR Alleges ₹10,000 Crore Land Scam in Gachibowli, Blames Congress Govt and BJP MP
BRS working president and former minister KT Rama Rao (KTR) has dropped a political bombshell, alleging a massive ₹10,000 crore land scam involving forest land in Gachibowli, Telangana.
Hyderabad: BRS working president and former minister KT Rama Rao (KTR) has dropped a political bombshell, alleging a massive ₹10,000 crore land scam involving forest land in Gachibowli, Telangana. Speaking at Telangana Bhavan, KTR accused the Congress-led Revanth Reddy government of conspiring to sell forest land illegally with the help of a BJP MP and a shady investment firm.
“Congress Opened Doors to Economic Offences,” Says KTR
KTR claimed that the Congress government has opened a “new chapter of corruption” in Telangana. He accused the government of violating Forest Acts and Supreme Court directives by attempting to sell and mortgage 400 acres of forest land near HCU (Hyderabad Central University).
“The Congress regime is running on a 3D mantra — Dhandha, Destruction, and Deceit,” he stated.
Forest Land Near HCU at Centre of Alleged Scam
According to KTR, the land in question has been recognized as forest land under the Forest Conservation Act, 1980 and cannot be sold or mortgaged. He said a broker from Trust Investment Advisor, introduced by a BJP MP, was used to obtain bank loans fraudulently and bypass RBI regulations.
KTR alleged that the Telangana State Industrial Infrastructure Corporation (TSIIC) falsely claimed ownership of the 400 acres using just one GO (Government Order 54, dated 26.06.2024).
“Land Worth ₹5,239 Crore Overvalued to ₹30,000 Crore”
KTR pointed out shocking discrepancies in the land valuation process:
- Market value per acre: ₹75 crore (as claimed by govt)
- Actual value per KTR: ₹13 crore per acre
- Total inflated valuation: ₹30,000 crore
- Revised valuation: Reduced to ₹16,000 crore, then to ₹42 crore per acre
He also claimed that a commission of ₹169 crore was allegedly given to the broker.
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“ICICI Bank Gave ₹10,000 Crore Loan Without Field Check”
KTR said ICICI Bank sanctioned a ₹10,000 crore loan without verifying the land documents or conducting field checks. “Where did this ₹10,000 crore go?” he questioned, adding that the central government must respond.
“If the Centre does not act, we will approach the Prime Minister, file cases with RBI, SEBI, SFIO, Central Vigilance, and CBI,” he said.
BRS to File Formal Complaint and Seek CBI Probe
KTR announced that BRS will be lodging official complaints with RBI, SEBI, SFIO, and the CBI. He also promised to reveal the name of the BJP MP involved in the next press briefing.
He emphasized that this is not just a political allegation but a serious issue of financial fraud and illegal asset monetization by government agencies.
Key Highlights:
- KTR accuses Congress govt of ₹10,000 crore scam in Gachibowli
- Alleges misuse of forest land near Hyderabad Central University
- Claims involvement of BJP MP and fraudulent investment firm
- ICICI Bank allegedly gave massive loan without due diligence
- BRS demands central probe by SEBI, SFIO, CBI
