A prominent Telangana-based industrialist, who has been mainly into major real estate projects in and around Hyderabad besides having other industries, is said to be facing a tough time in completing his massive real estate venture at Telllapur on the outskirts of Hyderabad.
According to sources, this realtor, who was a hot favourite of the previous Bharat Rashtra Samithi government headed by then chief minister K Chandrasekhar Rao, bought nearly 100 acres at Tellapur thanks to the support extended by then powers-that-be.
It is a different matter that this realtor had developed differences with KCR during the second stint the BRS government and had become closer to the BJP national leadership.
Though present chief minister A Revanth Reddy used to attack this industrialist and real estate tycoon when he was in the opposition, there was no immediate threat to him after the Congress came to power. The realtor, however, maintained a completely low profile.
But according to latest reports, this industrialist is said to be in trouble over his Tellapur project.
The government, who has kept an eye on him, is learnt to have found that the land where the project is coming up is a government land and has been in legal dispute with some private owners who have sold it to this realtor.
Taking advantage of the situation, the government is learnt to have stopped registration of flats in the Tellapur venture pending the legal dispute. It also refused to give permission for water connections and other infra facilities.
Sources said some high-profile people close to the ruling party are said to be demanding huge kickbacks from this realtor to give various permissions and also remove the restrictions on registrations.
“At present, bargaining is going on,” sources said.