KTR Accuses CM Revanth Reddy of Allocating Cheap Future City Land to Brother

BRS working president K.T. Rama Rao on Tuesday accused Telangana Chief Minister A. Revanth Reddy of improperly allocating five acres of land in the proposed Future City in Hyderabad to his brother, A. Kondal Reddy. Rama Rao alleged that the land, estimated to be worth Rs 200 crore, was handed over for just Rs 7 crore to a firm linked to Kondal Reddy.

Addressing reporters, Rama Rao stated that Kondal Reddy is listed as the chairman of Tesseract Advanced Systems. He alleged that the entity exists only on paper and operates with a paid-up capital of just Rs 1 lakh.

The BRS leader questioned the financial credentials of Tesseract Advanced Systems and asked on what basis the valuation was conducted before the property was handed over. He also asked why Kondal Reddy represented the firm at official meetings if he had no connection to it.

Demanding an investigation into the role of the Chief Minister and concerned ministers in the deal, Rama Rao announced that the BRS would approach the Governor and the Lokayukta to pursue legal and constitutional remedies.