HYDERABAD: The probe to unearth the alleged illegal assets of former planning director of HMDA Shiva Balakrishna has swelled multi folds. The Anti-Corruption Bureau (ACB) sleuths said that the market value of his identified properties its not Rs 100 crores as thought initially and the value of the assets allegedly earned by Balakrishna and his alleged benamis is now found to be Rs 250 crore.
Officials who are probing Balakrishna’s disproportionate case told TOI that after probing the accused by taking him into custody for eight days, they have unearthed huge land bank and other properties. His custodial interrogation concluded on Tuesday.
“Till date, during the investigation of Balakrishna’s disproportionate assets case, we identified that he amassed 214 acres of agriculture land, 29 plots, 7 flats and a villa. These properties were registered in different names including his wife, daughter, brother, son-in-law and few others. The government value of the identified properties is Rs 13.32 crores, whereas, its market value is atleast Rs 250 crores,” officials told TOI.
Most of these properties were allegedly registered in the name of Balakrishna’s brother Naveen Kumar, who was arrested on Tuesday by ACB for assisting the former HMDA director. “We found that 70 percent of the properties earned by Balakrishna was kept in the name of his brother Naveen. The latter is responsible for managing the ill-gotten wealth of his brother. This includes purchasing of land, plots and getting it registered and subsequently to manage it,” sources said.
Naveen claimed that he is a businessman who is into real estate, but the ACB officials alleged that his claims were not credible.
The assets identified by the agency is spread across different districts in the state. In Jangaon102 acres agriculture land, Nagarkurnool 38 acres of agriculture land, 12 plots in Ranga Reddy, 2 plots each in Medak and Medchal, 3 plots in Sanga Reddy, 7 acres in Siddipet, 66 acres of agriculture land in Yadadri-Bhuvanagiri district.
When asked what could have made Balakrishna earn most of his wealth in Jangaon and Yadadri districts, the officials felt that since Warangal was considered by the previous government as the priority district next to Hyderabad, that might have made him prefer lands in those districts, where Warangal highway was an additional advantage for the accelerated growth. “Apart from that he was also in-charge of Ghatkesar Zone,” investigators said.
Officials who are probing Balakrishna’s disproportionate case told TOI that after probing the accused by taking him into custody for eight days, they have unearthed huge land bank and other properties. His custodial interrogation concluded on Tuesday.
“Till date, during the investigation of Balakrishna’s disproportionate assets case, we identified that he amassed 214 acres of agriculture land, 29 plots, 7 flats and a villa. These properties were registered in different names including his wife, daughter, brother, son-in-law and few others. The government value of the identified properties is Rs 13.32 crores, whereas, its market value is atleast Rs 250 crores,” officials told TOI.
Most of these properties were allegedly registered in the name of Balakrishna’s brother Naveen Kumar, who was arrested on Tuesday by ACB for assisting the former HMDA director. “We found that 70 percent of the properties earned by Balakrishna was kept in the name of his brother Naveen. The latter is responsible for managing the ill-gotten wealth of his brother. This includes purchasing of land, plots and getting it registered and subsequently to manage it,” sources said.
Naveen claimed that he is a businessman who is into real estate, but the ACB officials alleged that his claims were not credible.
The assets identified by the agency is spread across different districts in the state. In Jangaon102 acres agriculture land, Nagarkurnool 38 acres of agriculture land, 12 plots in Ranga Reddy, 2 plots each in Medak and Medchal, 3 plots in Sanga Reddy, 7 acres in Siddipet, 66 acres of agriculture land in Yadadri-Bhuvanagiri district.
When asked what could have made Balakrishna earn most of his wealth in Jangaon and Yadadri districts, the officials felt that since Warangal was considered by the previous government as the priority district next to Hyderabad, that might have made him prefer lands in those districts, where Warangal highway was an additional advantage for the accelerated growth. “Apart from that he was also in-charge of Ghatkesar Zone,” investigators said.