Hyderabad (Telangana) [India], March 25 : Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR) accused Telangana Chief Minister Revanth Reddy and his family of being involved in a massive TDR (Transferable Development Rights) scam, claiming that the Reddy family had been buying TDRs indiscriminately, setting the stage for a huge financial scandal.
KTR stated that his previous warnings about misuse of TDRs by Congress had come to fruition with new real estate regulations that mandate the purchase of TDRs by real estate companies.
"TDR is a massive scam. I clearly stated a year and a half ago that Revanth Reddy's family members and his associates are buying TDRs indiscriminately and are setting the stage for a huge scam," KTR said.
"Even during last year's budget session, I explicitly mentioned that they are purchasing TDRs and would later bring in regulations making the use of TDRs mandatory. Exactly as predicted, the Congress government has now introduced new real estate regulations, directing real estate companies to forcibly purchase TDRs," he added.
"This is definitely a major scandal," he asserted, adding that once his government returns to power, a comprehensive investigation into the TDR scam would be launched.
KTR promised to expose the role of Revanth Reddy's family in the alleged scam, saying, "We will certainly expose the role of Revanth Reddy's family members and relatives who are buying TDRs from displaced persons for a pittance and selling them at exorbitant prices. Since every detail, who sold, who is buying, and who is reselling to whom, will be tracked in this TDR process, everyone involved in this scam will surely face consequences in the coming days."
The BRS leader further went on to claim that the TDR system had been monopolised by Revanth Reddy's family, saying, "Under Revanth Reddy's rule, TDR has now turned into 'Tirupathi Reddy Development Rights.' We are aware of every aspectinto whose hands these TDRs are changing, how they are changing, and why. Revanth Reddy has turned this TDR into an ATM for his family."
KTR vowed to expose the full extent of the scam and said, "We will soon hold a press conference to fully expose this TDR scam".
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