Did Balayya Babu Grab 500 Acre Of Amaravati Lands

Is actor-Politician Nandamuri Balakrishna involved in a massive 'insider trading' over Amaravati lands? Did he and his close relatives grab over 500 acres on the basis of insider information that Amaravati would soon become the capital of the truncated Andhra Pradesh. The YSRCP had all along alleged that the TDP biggies had bought lands at throwaway prices before Amaravati was announced as the capital of the state. The land prices started shooting up only after they purchased lands. Even Jagan Mohan Reddy had alleged that there was massive insider trading during the TDP rule. Jagan and his party, which are now in power, have said that the World Bank withdrew the proposal to fund the construction of Amaravati as they had an inkling of the insider trading.

Due to this the Rs 300 million USD loan for Amaravati was cancelled. The YSRCP is now trying to get to the depth of the issue and identify the culprits. The ruling party says it will expose everyone involved in this scam and will spare none. Action would be initiated against anyone found grabbing land through prior information from the Government.

Nandamuri Balakrishna is the MLA from Hindupur and is also the brother-in-law of Chandrababu Naidu.