Rajus sold land worth Rs 1000 crore

HYDERABAD: The Rajus were not only buying land, they were also selling land. Maytas Infra and Maytas Properties sold land worth nearly Rs 1,000 crore at market rates, last year in Ranga Reddy district that is the fastest growing part of Greater Hyderabad. This fact was stumbled upon by investigators of the stamps and registration department looking into the land dealings at the behest of the CID.

Maytas group companies sold nearly 1,90,500 sq yards of land in Gopannapally village near Gachibowli which would have fetched about Rs 213 crore as per the government rates in 2008. The officials say as per the market value could be more than Rs 600 crore on a conservative basis. Similarly another Rs 200 crore worth properties as per government rates were sold in Medchal limits where the Maytas has a huge number of properties. The rest of the properties are in the surrounding areas of the city.

Sources said that as per the preliminary investigation by the registration department, Maytas companies purchased nearly 500 acres of land in areas like Medchal, Qutubullapur and Bachupally that are parts of Ranga Reddy district. As many as 13 transactions either of sale or buying of land were identified in Mechal and Serilingampally sub-registrar offices.



"Most of the land was purchased by Mayas Infra and Maytas Properties in Gachibowli, Nallagandla, Jeedimetla, Gopannapally and Bachupally areas,'' an official said. Maytas companies sold nearly 100 acres in Gopannapally and 85 acres land in Bachupally areas in the last three years.

Now the Stamps and Registration department is looking into the details on land transactions of Ramalinga Raju's family members since 2001. The investigations have been triggered off by a CID querry that seeks the properties details of Ramalinga Raju, his brothers Rama Raju and Suryanarayana Raju, wife Nandini Raju, wives of brothers Radharani Rama Raju and Jhansi Rani, son Teja Raju, Anjali wife of Teja Raju, Nithya daughter of Teja Raju, and younger son Rama Raju (junior).

The revenue department has already collected details on the land holdings by the Maytas groups, Satyam and Ramalinga Raju and his family members. They said they all put together bought an estimiated 3,000 acres alone in Ranga Reddy district. The officials said most of the land on the benami names especially in Qutubullapur and Medchal mandals.