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Watch: Naidu did real estate business in Amaravati!

Watch: Naidu did real estate business in Amaravati!

Telugu Desam Party president and former chief minister N Chandrababu Naidu had done real estate business in the name of Amaravati capital development and made land allotments to his favoured few institutions at a throwaway price.

This was the allegation made by state finance minister Buggana Rajendranath Reddy while introducing the bill on three capitals plan in the state assembly on Monday.

He said the Naidu government had leased out lands in Amaravati at a rate of Rs 1 crore to Rs 4 crore per acre to Central government Institutions, but sold to his henchmen at mere Rs 50 lakh per acre as seen for various institutions.

Some of these “most favoured institutions” who got lands at Rs 50 lakh per acre are: Width AP: 200 acres, SRM University: 200 acres; Amritha University: 200 acres; Indo-UK Institute of Health: 150 acres and Medicity Health - 100 acres.

Similarly, various star hotels were allotted lands on public private partnership model at a rate of Rs 1.5 crore per acre. They are: Varun Hospitality Private Limited: 4 acres; Mahalakshmi Infra Ventures: 4 acres and Indroyi Hotels: 4 acres

Besides, several convention centres and recreation clubs were allotted lands, like five acres for Amaravati Convention Centre (owned by Varun Hospitality), eight acres to Kosta Marina and also to Fortune Murali Resort Hotel.

“These are all nothing but part of Naidu’s real estate mafia,” Buggana said.

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Tags: Andhra Pradesh Assembly Buggana Rajendranath Reddy Andhra Pradesh Capital