Telangana Chief Minister Revanth Reddy orchestrating multi-thousand crore TDR scam, says KT Rama Rao
BRS working president says Revanth Reddy, along with four real estate brokers, manipulating the system for illicit profits through policy manipulation and insider trading
Hyderabad: In an indication of a stormy Assembly session starting from Wednesday, BRS working president KT Rama Rao on Monday threw down the gauntlet at Chief Minister A Revanth Reddy, charging him with masterminding a massive Transferable Development Rights (TDR) scam worth thousands of crores. He felt that it could be one of the biggest financial scandals in the State’s history, orchestrated under the guise of urban planning.
“This conspiracy is worth an investigation by Central agencies such as the CBI, ED and I-T. The Chief Minister must release a White Paper on the current TDR ownership and recent transactions in the upcoming Assembly session to prove me wrong,” he challenged, demanding to know who was buying the TDRs in bulk and where they were being consolidated.
In an informal interaction with the media at the BRS Legislative Party office here on Monday, Rama Rao said Revanth Reddy, along with four real estate brokers, was manipulating the system for illicit profits through policy manipulation and insider trading. According him, the Chief Minister and his close aides were hoarding TDRs, using inside knowledge of impending policy changes to control the market.
According to the BRS working president, these brokers were aggressively acquiring TDR at throwaway prices, while the Chief Minister prepares to impose Floor Space Index (FSI) restrictions in Hyderabad. He said once FSI limits were enforced, demand for TDRs would skyrocket, allowing Revanth Reddy’s associates to sell them at inflated rates, pocketing massive illegal gains. “This is nothing short of a pre-planned financial conspiracy. It is a blatant misuse of power,” he said.
He dismissed the argument that FSI restrictions were necessary for Hyderabad’s urban planning, stating that it was a mere smokescreen to justify selling TDRs at artificially inflated prices. Rama Rao recalled that during late YS Rajasekhara Reddy’s tenure, the Congress government encouraged unrestricted FSI to promote development — an approach later upheld by successive administrations, including the BRS after the formation of Telangana, benefiting both landowners and builders. “Revanth Reddy’s decision to reverse this policy is nothing but a cover-up for his profiteering agenda,” he said.
He pointed out that the TDR system was originally designed for public welfare, enabling the Greater Hyderabad Municipal Corporation (GHMC) to acquire nearly 400 acres of land worth thousands of crores for infrastructure projects.
“Instead of using this system for public benefit, Revanth Reddy has turned it into a tool for illegal wealth,” he stated, declaring that if Revanth Reddy fails to provide clear answers, legal action will be inevitable to protect the rights of people.
