Visakhapatnam: Port city's prime assets mortgaged

A view of Gopalapatnam Rythu Bazaar which has been mortgaged along with other properties in Visakhapatnam.
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A view of Gopalapatnam Rythu Bazaar which has been mortgaged along with other properties in Visakhapatnam. 

Highlights

To raise funds to the tune of Rs 1,600 crore, 13 prime assets in different places have been mortgaged across Visakhapatnam

Visakhapatnam: The YSRCP government which is keen on making Visakhapatnam as the executive capital of the State is eventually mortgaging valuable assets across the district. In a bid to raise funds to the tune of Rs 1,600 crore, 13 prime assets in different places have been mortgaged across Visakhapatnam.

From the government's circuit house to Tahsildar office, Road and Building quarters to Government Polytechnic College, Gopalapatnam Rythu Bazaar to Government ITI and police quarters, about 13 prime assets have been mortgaged by the State government.

The mortgage registration procedure pertaining to these properties was wrapped up last month. The move, however, drew criticism from the political circles, more so from the Opposition party leaders as they allege that in addition to the development coming to a grinding halt, the State government is mortgaging the assets of Visakhapatnam.

Condemning the state's decision to this effect, several political parties, including, the BJP, TDP, JSP and Left parties expressed anguish and staged protests. State BJP vice-president P Vishnu Kumar Raju questioned the right of the government in going for a mortgaging-spree to raise funds.

He pointed out that Visakhapatnam has earned the tagline of 'mortgage city' instead of smart city over the past two years.

Similarly, former TDP minister Bandaru Satyanarayana Murthy told The Hans India that both YS Rajasekhara Reddy and his son Jagan Mohan Reddy had set their eyes on the assets of Visakhapatnam. "Under the former's regime, properties in Visakhapatnam were sold out to develop Hyderabad and Kadapa. Now, his son is following his footsteps," he pointed out.

If similar situation continues to prevail in Visakhapatnam, there may not be any site left for the purpose of development or to attract new industries in future, lament the Opposition party leaders.

Expressing his view in a video conference, TDP leader Ch Ayyanna Patrudu added that leaders should fight to protect the properties of Visakhapatnam instead of keeping mum. If this is the situation the port city has to experience, Ayyanna Patrudu wondered, what would be the plight of Visakhapatnam once it becomes executive capital.

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