During a media conference in Nellore, TDP spokesperson Anam Venkataramana Reddy accused leaders of the ruling party of being embroiled in a significant scam related to Transferable Development Rights (TDR) bonds issued by the Municipal Corporation of Tirupati (MCT). Reddy alleged that the MCT inflated the values of TDR bonds by misrepresenting residential and agricultural lands as ‘commercial’ and issuing bonds to fake holders of General Power of Attorney (GPA). He criticized the bureaucracy for failing to intervene in the matter. This is the second instance in less than three months that Reddy has raised concerns about corruption in this matter.
He highlighted cases where bonds worth crores were issued to individuals for lands worth significantly less, demanding accountability from officials and urging the application of the Revenue Recovery Act to reclaim misappropriated funds. Reddy also presented documents indicating objections raised by the Joint Collector of Tirupati district regarding irregularities in bond issuance.