YSRCP Alleges Major Scam in Visakhapatnam Land Deal with Lulu Group

The YSRCP accuses the state government of a scam in leasing 13 acres of prime land in Visakhapatnam to the Lulu Group. The party claims loss of potential revenue due to bypassed procedures and alleges lack of transparency and undue advantages to Lulu Group, including subsidies.

The YSRCP has accused the state government of involvement in a 'massive scam' in the leasing of over 13 acres of government land in Visakhapatnam's harbour park area to the Lulu Group. The opposition party claims the land is worth Rs 2,000 crore and alleges procedural irregularities.

According to the YSRCP, the land was leased for 99 years at a nominal rate, bypassing standard procedures like tenders or Requests for Proposal (RFP). They argue that the land could have been auctioned for greater revenue.

The decision was reportedly influenced by a letter from Lulu Group chairman Yusuf Ali to Chief Minister N Chandrababu Naidu, with no public notification for competitive bidding, raising concerns over transparency. The YSRCP alleges additional irregularities, including subsidies and a rent-free period for the project.

(With inputs from agencies.)