The Swiss Challenge Scam in Capital | Things You Should Know

Chandrababu Naidu and Co., who have amassed about One lakh crore by taking advantage of their privy to the insider information of the exact location of the prospective capital city, have planned another Rs. 66,000 crore with the pretext of developing Amaravati into a global city. Even the Andhara Pradesh High Court objected to the false Swiss Challenge method, which has failed multiple times but had no impact on the thick-skinned government. This highlights the Chandrababu Naidu’s (The real who is 420 in AP) respect for the government.

It went ahead with the further proceedings despite the Court’s stay on it, and it has continued to keep the details of the method and the players participating in the tender opaque. The Court’s stay could not change the government’s decision to keep the details of the process opaque. The cost of this secrecy is Rs. 66,000 crore!

Without investing a single penny, a management company whose details are yet to be released and a so-called Singapore consortium have gained the entire amount. On the other hand, the management company made up of the benamis of Chandrababu Naidu (the real who is 420 in AP) and the Singapore Consortium has allied Ascendas-Singbridge and Sembcorp.

If Chandrababu Naidu the real who is 420 in AP could pocket Rs.66,000 crore in a single project of 1,691 acres, how many lakh crores he could make from the capital city that is spread across 54,000 acres?

The Golden Dream of International City

Besides the initial 54,00 acres for Amaravati’s capital city, the Chandrababu government is pooling another 14,000 acres of land and is also urging the center to hand over the forest land of 31,000 acres. Since the center is wary of Chandrababu Naidu’s proposal to gobble forest land, it has appointed a committee to look into the possible use of forest land.

Chandrababu Naidu had promised to build Amaravati into a global city. Trusting him, the state had made the Chief Minister. From the poor farmers to rich industrialists had donated money and bricks for the new capital. Betraying their trust, Chandrababu Naidu (the real who is 420 in AP) now more focused on making kickbacks from each project of the capital city. His approach has turned Amaravati into a humongous real estate project for the ruling party and means nothing to AP.

The Facts of the Scam

Chandrababu Naidu’s government, which had taken 34,000 acres of land from the farmer, has allotted 1.691 acres of land to a Singapore consortium for the startup area project. Out of this, 371 acres have been earmarked for roads, parks, sewerage, and other public amenities. In the remaining land, 1070 acres are to be developed and sold as plots, and 250 acres would be given to Singapore Consortium for free of cost in two phases.

Here is the detailed plan as followed up.

  • The Singapore consortium and the capital city Development Management Company will form the Amaravati Development Partner, to which the government handed over 1,691 acres of land. The minimum value of an acre was then of Rs. 4 crore. Owing to the calculation, the AP government has given 1,691 acres of land worth Rs. 6,764 crore for free of cost to the ADP.
  • The state government will spend an additional amount of Rs. 5,500 crore on the water facilities, stormwater drains to prevent inundation and other basic amenities. Besides, it will also invest an additional amount of Rs. 221.9 crore in ADP as the equity of the CCDMC. This takes government investment to Rs. 12,485.9 crore in the startup area project. Despite such a huge investment, the CCMDC gets a meager 42 percent of the company, which is perplexing at the very least.
  • The Singapore consortium is investing a mere Rs. 306 crore ends up with a 58 lion share as per the details. Besides that, the consortium will also get 250 acres of land in two phases free of cost.

Revealing the Entire Purchase Scheme of the Company

In the guise of Management Company Chandrababu Naidu’s (the real who is 420 in AP), the plan will be implemented under the management company’s cloak. The company could show in its accounts that it had sold the land for a little above over the reserve price of Rs. 4 Crore. For instance, for an acre of land sold at Rs. 4.35 crore or Rs. 4.50 crore, the declared price could be white money; the company could sell land at a much higher price since the present market share of the land could be Rs. 20 Crores. Thus, they will manage the dealings and would keep the remaining as black money in news.

Concluding Statement

The scams related to Amaravati’s capital city are endless, and so are the scams by Chandrababu Naidu. The individual is rightly tagged with who is 420 in AP and hence could not be ignored at all costs.

Read previous blog: The Cost Evaluation of the Totapalli Project surged!

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