AP government to unearth major TDR Bonds scam in municipalities 

Government orders CID inquiry to expose a major scandal linked to YSRCP govt 

The Capital News 

The Andhra Pradesh government is on the brink of uncovering a significant scam involving Transferable Development Rights (TDR) bonds across various municipalities in the State. The irregularities in the issuance of these bonds, particularly concerning land acquisition, are likely to expose a major scandal linked to the previous YSR Congress government. Municipal Administration Minister P Narayana has brought the issue to the attention of Chief Minister N. Chandrababu Naidu, who has been briefed on the possible extent of the scam.

The government is now considering ordering a Criminal Investigation Department (CID) inquiry to thoroughly investigate the matter. According to sources within the municipal administration department, preliminary evidence has already surfaced in Tanuku municipality, revealing alarming discrepancies. Officials have discovered irregularities amounting to Rs 691 crore in TDR bonds out of a total issuance of Rs 754 crore in the municipality, highlighting the magnitude of the potential scam.

The modus operandi appears to involve the acquisition of land at low rates, measured in acres, only to have its value significantly inflated when converted to square feet for the issuance of TDR bonds. In one instance, land acquired at a rate of Rs 55 lakh per acre was later valued at Rs 10 crore when re-measured in square feet for TDR bonds, raising serious concerns among municipal administration authorities.

As a result, the State government has already suspended a municipal commissioner and two other employees involved in the Tanuku municipality case. Additionally, the municipal administration department has initiated an internal inquiry to examine TDR bonds issued across the State during the YSRCP government’s tenure.