KCR’s next target is Shyam Prasad Reddy?

Reportedly, after taking on big shots like Akkineni Nagarjuna, KCR, the Chief Minister of Telangana, is planning to reclaim all alleged illegal lands of YS Jagan Mohan Reddy and his allies possessed in Hyderabad. According to sources, the then Chief Minister of Andhra Pradesh late YS Rajasekhar Reddy had liberally allotted 250 acres land to Shyam Prasad Reddy of Indu Tech Zone at Mamidipally village in Saroornagar Mandal for a negligible price. It is learnt that Shyam Prasad Reddy is one of the business partners of YS Jagan Mohan Reddy, the Chief of YSR Congress Party.

Reportedly, the then government allotted this land for setting up an IT/ITES Special Economic Zone (SEZ) in an area covering 150 acres of the total area. Conversely, only three buildings have been constructed till date for their personal use of the land allotted. The company even ignored several notices issued by the government in the erstwhile Andhra Pradesh. KCR’s government which is on a recovery mission is now targeting to reclaim this land, reportedly. Recently a team of higher officials in the revenue department surveyed this land and are preparing the notices for reclamation, added sources.

It is learnt that Indu Techzone even availed a loan of Rs 175 crore by mortgaging a portion of this land. It is also learnt that according to the loan agreement, the IT SEZ should have been set up by 2012. As the said period has already been elapsed, the government finds no hindrance to reclaim the land. There are many allegations that Shyam Prasad Reddy has allegedly done many favours to YS Jagan Mohan Reddy to get the land allotted to him.