KTR Claims Rs 10,000 Cr Scam In Land Near HCU

Hyderabad: Bharat Rashtra Samithi (BRS) Working President KT Rama Rao on Friday accused Telangana Chief Minister A Revanth Reddy of orchestrating a massive Rs10,000 crore financial scam involving Kancha Gachibowli lands near the Hyderabad Central University.

Addressing a news conference, KTR, as the BRS leader is popularly known, claimed that the state government illegally pledged 400 acres of forest land adjacent to Hyderabad Central University (HCU) to secure a Rs10,000 crore loan from banks.

Terming the episode as a "criminal conspiracy" and a "betrayal of Telangana’s trust", he called Revanth Reddy the "architect, executor, and key player" behind the scandal and vowed to take up the issue with the RBI, the SFIO, the SEBI and other Central agencies.

KTR alleged that the land was illegally pledged without verifying ownership, conducting environmental assessments, or obtaining Forest Department approvals. The Telangana Industrial Infrastructure Corporation (TGIIC), he alleged, mortgaged the land despite lacking a legal title, with no sale deed, mutation, or alienation process to establish ownership.

Claiming a glaring discrepancy in the land’s valuation, he said that initially, the government valued the 400 acres at Rs30,000 crore, issuing a Government Order (GO) in June 2024 that pegged the per-acre value at Rs75 crore. However, five months later, in November 2024, a new valuation by another agency reduced the per-acre value to Rs 52 crore, and a subsequent open-market assessment further slashed it to Rs41.6 crore, bringing the total value down.