A 10000 Crore Scam is unearthed in Miyapur involving the encroaching of 693.04 acres of government and private land which resulted in 587.11 Crore loss to the government. The Market value of these lands is estimated to be more than 10000 Crore.
As of now, Rachakonda Sub-Registrar and two others are arrested in the scam but it is almost an open secret that a scam of this scale can not happen unless someone from the government is involved. Vacant lands in Miyapur were registered illegally on some names taking 2 Crore Bribe per acre.
These lands cost as much as 14.5 Crore Per Acre in Open Market. Some of these lands are entangled in court cases for years but it is evident that the government did not take any measures to protect these lands from the encroachment.
If someone from the government lands in this Scam, it will be the first and biggest scam involving Telangana Government. This will be a huge setback for the government which is seeking a second term of government in Just Two years time.