Jana Sena Party corporator Peethala Murthy Yadav alleged that a significant amount scam is taking place in Greater Visakhapatnam Municipal Corporation disguised as Transfer Development Rights (TDR) bonds.
He alleged that, some individuals illegally acquired hundreds of crores of TDR bonds during the YSRCP regime and are now pressuring the GVMC officials to legitimate them.
Addressing the media on 2 February 2025, the corporator said, TDR bonds should be issued based on road expansion compensation with the correct ratio being 1:1. However, he alleged, around Rs 1,000 crore bonds were issued incorrectly during the past five years. In 2023, TDR bonds were issued for slums that were 50 years old.
The Minister also claimed that, TDR bonds issued were in the ration of 1:4, while the standard issuance ratio is 1:1. For instance, bonds worth Rs 30 crore were issued at 1:4 ration in Venkatapathi Raju Nagar slum.
Murthy Yadav further highlighted the case of Bakkannapalem in Survey Number 2, and said YSRCP regime issued Rs 209 crore fake TDR bonds. The corporator made a complaint to the GVMC commissioner, resulting in the suspension of TDR bonds.
However, due to the suspension of bonds, some “YSRCP leaders are now pressuring the GVMC officials to release the pending TDR bonds,” he added.
According to the Murthy Yadav, in a case in Kapparada in survey number 41/4, a politician applied for TDR for stormwater drain claiming 19 times more than the actual land areas. However, a survey revealed that the land belongs to the government.
In another case in Kommadi, where the land belonging to a deceased woman was affected by road extension, 1:4 TDR bonds were claimed, despite the property being classified as D-Patta.
He also claimed that the lands were occupied in the name of Simhachalam temple and from Goshala to Jail Road, there is also a demand to issue 180 old and 180 new TDR bonds. The corporator demanded the cancellation of all the illegal TDR bonds in Visakhapatnam, as this Rs 1000 crore alleged scam can result in significant revenue loss to the government.
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