Vijayawada: The 83.11 acres of land belonging to the Sadavarti Choultry in Chennai fetched Rs 60.30 crore in an open auction on Monday. The AP government had earlier claimed that there were no bids for the land and had sold it for Rs 22.4 crore.
The YSRC claimed that the gain was the result of party MLA A. Ramakrishna Reddy’s fight, which had yielded about Rs 40 crore as additional income.
“The government which had claimed there were no takers for Sadavarti lands should answer now. The fight of our MLA has shown positive results,” said former minister K. Parthasarathi.
The Endowments department had faced criticism for selling the land to Kapu Corporation chairman Cha-lamalasetty Ramanujiah’s family. The auction was cancelled by the High Court, and the fresh exercise was taken up on Monday.
The auction was held at the TTD Information Centre at T. Nagar in Chennai under the supervision of endowments commissioner Anuradha.
Eight bidders participated in which Mr Satyanarayana, a realtor from Kadapa, offered Rs 60.30 crore. He will have to deposit half the amount within 48 hours.
