AP Capital Opens Doors for Black Money?

Posted : November 11, 2014 at 10:17 pm IST by ManaTeluguMovies

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In a complete contrast to the current trend, the new state of Andhra Pradesh is reportedly opening doors for the “black money” holders albeit indirectly. At a time, the whole nation is crying foul over unaccounted black money possessed as Prime Minister Narendra Modi-government and Supreme Court made it clear that they’re strongly commitment to bring “black money” holders under book, the truncated state is turning out to be the new destination for the “investment” of black money holders. This is not all. The important note that needs immediate examination is that several black money holders have got a “great” opportunity to convert their “black money” into white. Confused??

Well, we’ll tell you how. While the cost of lands around proposed AP Capital, as per the government records, is around Rs 4 Lakh to Rs 12 Lakh per acre, the market rate of land is reportedly between a whopping Rs 80 Lakh to Rs 1 Crore thus resulting in pumping of Rs 90 Lakh black money that is eventually converted into “white”. Buyers are said to be thronging to buy lands around AP capital so that they could own a land and also convert their unaccounted cash into white. “It’s just like shooting two birds in one shot,” commented a market analyst on the ongoing issue. Moreover, buyers are keen on lands that are sought by government of AP for landpooling as purchasers want to get their share of 1000 sq yards of developed land.

With this, there is said to be a mad rush to buy lands that is sought for pooling by the government of Andhra Pradesh. Investors are making queue to Tullur and Mangalgiri to buy lands from farmers and later give it to the state government. Revenue officials too predict the same and as per records, the registrations in the locales have been increased abnormally. Especially people from Hyderabad, Telangana and other parts of Andhra Pradesh are running after the farmers who holds lands within AP capital perimeter. The trend increased drastically soon after AP government announced the borders of the capital. This is certainly an irony and tricky situation as all the three – farmers, buyers and AP government is visibly benefiting out of this in one way or the other way. But towards the end, it’s all black money that’s being pumped in huge way and changing hands in a big way.