Revanth Govt set to mortgage 400 acres of prime land in Hyderabad to pvt. finance companies, alleges BRS

Mr. Rao highlighted that the areas chosen for the mortgage, Kokapet and Raidurgam, host IT industry hubs

Updated - July 10, 2024 09:31 pm IST

Published - July 10, 2024 11:17 am IST - HYDERABAD

Bharat Rashtra Samithi (BRS) Working President K.T. Rama Rao.

Bharat Rashtra Samithi (BRS) Working President K.T. Rama Rao. | Photo Credit: Kamalkishore

Bharat Rasthra Samithi (BRS) working president K.T. Rama Rao has alleged that Telangana Government led by A. Revanth Reddy, which is reportedly struggling to manage its finances, is set to mortgage 400 acres of government land to private finance companies. These lands, reportedly worth ₹20,000 crores, are expected to raise ₹10,000 crores.

In a statement made on X (formerly Twitter), K.T. Rama Rao accused the government of appointing a merchant banker as an intermediary, agreeing to pay a commission of ₹100 crores. He warned that this move could cripple the progress of Telangana permanently, deterring new investments and industries, and adversely affecting job creation for the State’s youth.

Mr. Rao highlighted that the areas chosen for the mortgage, Kokapet and Raidurgam, host IT industry hubs. He noted that the industrial sector in Telangana has been stagnant for the past seven months, with no new investments and existing companies reconsidering their options due to a lack of incentives.

“Now if the lands are given to industries for political purposes, what will happen to the companies? How will our youth get new jobs?” he questioned.

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