Bharatiya Janata Party (BJP) Tirupati unit leaders have written to Chief Minister N. Chandrababu Naidu, calling for a thorough investigation into the alleged TDR (Transferable Development Rights) bonds scam that took place in Tirupati Municipal Corporation (TMC). In their appeal, BJP leaders urged to probe the controversy surrounding TDR bonds issued by TMC by constituting a special investigation team.
Addressing a press conference here on Monday, BJP leader P. Naveen Kumar Reddy alleged that TMC issued the TDRs worth `61 crore in 2023 in the guise of pooling land for the development of 18 master plan roads. He said the prices of most of the lands were inflated to benefit the landowners and these landowners indeed got the lands for cheaper rates from common people and sold at high prices to the corporation.
In some cases, some officials and politicians forced landowners to sell their TDR bonds at below-market rates and resold the bonds to builders in other cities at significantly higher prices and got substantial illicit profits, he said. Naveen Reddy demanded that original landowners get the benefits of TDRs, not the officials and politicians who made the money through the scam. He requested that key officials from various departments, including the town planning, sub-registrar's office, revenue department and some corporators be placed under judicial custody as part of the investigation.
“The TDR bonds scam of Tirupati is the second largest in the state, only after the ir.