For the last few days, the Telugu Desam Party leaders making a hue and cry over the agreement signed by the family of YSR Congress party general secretary and Rajya Sabha member V Vijay Sai Reddy with Dasapalla family for development of prime lands in Visakhapatnam worth over Rs 2,000 crore.
The TDP leaders’ main allegation, according to their favourite media houses, was that Assure Developers LLP, in which Sai Reddy’s daughter and son-in-law happened to be the directors, had signed the agreement with Daspalla royal family to develop the lands in the ratio of 70:30.
It would mean, the Assure Developers would get 70 percent the developed property, while the Daspallas would get 30 percent.
The TDP leaders argue that this is against the established norms of development agreement, in which the developer would get 60 percent, while the owner would get 40 percent.
The opposition’s allegation is that the additional 10 percent being offered to the developer was nothing but kickbacks to Jagan, who facilitated removal of these lands from the prohibited list in the revenue records.
Now, the question is why TDP is silent on this 99:1 deal when it made hue and cry about the 70:30 deal. Here are the details.
They have brought out a similar agreement signed by M V V and M K Housing company owned by former YSRCP MP from Visakhapatnam for development of a private property.
The housing company owned by Satyanarayana MVV was to develop and construct a multi-storied apartment building complex in Visakhapatnam. According to this agreement, the total built up area of this complex is 15 lakh square feet.
The owners agreed to entrust to the developer, the development of the said property and confer upon the developer the rights, powers, privileges and benefits.
In return, the owners would get only 14,400 square feet of the total constructed area, apart from parking.
“The developer is entitled to have remaining built-up area and parking area. The owners shall not claim any excess built-up area other than the agreed built-up area of 14400 sft to be given by the developer,” the agreement said.
It does mean, Satyanarayana MVV and his company would get more than 99 per cent of the total built up area, while the land owner is entitled to get only 1 percent.
This deal happened in 2018 but TDP never spoke out about this. Should this be understood as a caste feeling?
