Mangalagiri: ‘Government mortgaged TIDCO houses for Rs 10,000 crore’

Mangalagiri : TDP politburo member Bonda Umamaheswara Rao on Friday asked Chief Minister YS Jagan Mohan Reddy to clarify into whose pocket the Rs 10,000 crore raised as loan by mortgaging the TIDCO (Township and Infrastructure Development Corporation) houses built for the poor by the TDP government has gone. Talking to media persons here, Bonda Uma suspected massive corruption at every stage in this government, including in the distribution of one cent house-sites to the poor and building villages in the name of Jagananna colony construction.

“The Chief Minister has looted Rs 7,000 crore in the name of distribution of one cent house sites to the poor,” he alleged.

Bonda Uma said that the state government has recently raised Rs 10,000 crore as loan from various banks by mortgaging the TIDCO houses without the knowledge of the beneficiaries. These TIDCO houses were built by the TDP government for distribution to the poor, he said.

Now the banks are asking the beneficiaries to repay the loans and the banks have now even branded the houses as non-performing assets (NPAs), the former MLA said and demanded the state government to see to it that the beneficiaries get the regular status back.

He demanded the CM to immediately take steps not only to stop banks from going for auction of the housing units but also to see to it that the beneficiaries get the regular status.