BJP Kakinada district president Chilukuri Ramakrishna on Sunday demanded a probe into the alleged scandal surrounding the release of Transferable Development Rights (TDR) bonds, worth ₹500 crore, by the Kakinada Municipal Corporation (KMC) to secure nine acres of land for two civic projects in Kakinada city.
The KMC released ₹250 crore worth of TDR bonds so far to secure four acres of land for the construction of a power substation in the Dummulapeta area. The civic body has also proposed to issue TDR bonds worth another ₹250 crore for four more acres for the solid waste management plant in the same area.
Speaking to the media at a press conference here on Sunday, Mr. Ramkurmar alleged, “KMC authorities have chosen private land for the two civic projects in Dummulapeta despite the availability of government land. The KMC authorities have also prepared the proposals with huge land costs as against the actual costs to float the TDR bonds.”
