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Villas ‘belong’ to Jagan

Posted by on August 11, 2011 0 Comment

Vigilance and Enforcement officials think that several of the benami villa plots in Emaar Township might actually belong to the Kadapa MP, Mr Y.S. Jagan Mohan Reddy’s wife, Ms Y.S. Bharathi Reddy, Mr K.V.P. Ramachandra Rao’s relative, Mr K. Raghu and others.

The villa plots were sold to a small group of people and in some cases, more than one plot was sold to a single individual or family or company.

For instance YSR’s close aide Mr Ramachandra Rao’s relative, Mr Raghu, purchased villa plots in his, his wife Ramadevi’s, his son’s and his mother’s names.

Cricketer V. Chamunde-swarinath purchased three villa plots and Stylish Homes Real Estate Pvt Ltd purchased four villas.

According to Vigilance, Mr Sattikonda and Mr T.V.B. Jagannadh, shown as directors of Akash Estate Private Limited, which purchased villas, were actually audit assistants working for salaries of Rs.35,000 and Rs.25,000.

The entire investment of Rs.2.14 crore and share investment of Rs.50,000 each, was made by Mr M. Srinivas Reddy of the Hetero group of companies. Deccan Chronicle

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