Hyderabad: Small sized plots owned by Ramalinga Raju and his wife Nandini at Devarayamjal village in Sharmirpet mandal, were bought at highly inflated prices. While the market value of the land here was not even Rs 500 per sq yard in 2001, as per the sale deed the land was valued at Rs 18,000 per sq yard.
Similarly, there are many properties standing in the names of Ramalinga Raju’s brother Satyanarayana Raju and mother Appala Narsamma. Plot as ridiculously small as 20 sq yards and flats of the size of 400 sft are found to have been registered in their names in Medchal sub-registrar’s office.
“As per our rules, stamp duty should be collected based on the consideration value or market value whichever is higher. Generally people try to show the consideration value very less, but in this case it was extremely high,’’ an official said. “But here is a strange case where the purchaser was showing a higher asset value,” he added.
Some analysts wondered whether this was to con banks who give loans against the property based on the value of the property.
Official inquiries revealed that Ramalinga Raju, who purchased huge chunks of lands in Medchal, Qutubullapur and Serilingampally mandals, did not have any land transaction in areas like Kesara, Kapra, L B Nagar, Peddaamberpet, Champapet and Maheshwaram mandals. Reports from other areas like Hayathnagar, Malkajgiri, Saroornagar, Abdullapurmet areas are yet to be received by the registration and stamps department.
Contrary to allegations that Ramalinga Raju, his family members, Maytas Infra and Maytas Properties purchased nearly 3,000 acres through Akula Rajaiah, a land broker in Ibrahimpatnam and Manchal mandals, no land was found in their names. The suspicion is that the land is being held under benami names.
