The Telangana BJP demanded that the recently announced Hyderabad Industrial Land Transformation (HILT) policy by the Congress government be immediately suspended and it should not be implemented until the land valuation norms are revised to reflect the current market rates.
At a press conference at the State office on Monday, legislature party leader A. Maheshwar Reddy alleged that the policy is a massive land scam of ₹6.29 lakh crore as it has permitted the conversion of 9,292 acres of land belonging to 22 industrial estates and parks located within the Outer Ring Road (ORR) into multi-use zones.
The BJP leader contended that the move could lead to largescale misuse of valuable public assets, and the market value of these lands is as high as ₹2 lakh per square yard. After accounting for 30% of land for infrastructure such as roads and drainage, the remaining 6,510 acres could fetch over ₹6.29 lakh crore if sold at prevailing market rates.
Even if the government itself developed and sold plots through HMDA (Hyderabad Metropolitan Development Authority), the revenue could clear all of Telangana’s outstanding debts and any further development could potentially double the returns, he observed.
