YSRCP exposes Nara Lokesh’s Rs. 3,000 Cr land scam

Tadepalli, April 23: The YSR Congress Party (YSRCP) condemned the coalition government’s scheme to misappropriate public land worth billions using shell companies tied to Minister Nara Lokesh. 
YSRCP State Joint Secretary Karumuru Venkata Reddy, addressing the media, criticised Chief Minister Chandrababu Naidu and Lokesh for plundering state assets through fraudulent entities like Ursa Clusters.
Venkata Reddy revealed that Ursa, a dubious company registered two months ago in a Hyderabad apartment with only two directors and no employees, was allocated 56 acres in Visakhapatnam, valued at Rs. 3,000 crore, for 99 paise per acre. 
“This is an organized scam by Lokesh through aide Kilari Rajesh, who created shell companies to siphon off land,” he said, stating systematic looting via “suitcase companies.”
The coalition also allocated 21.16 acres to TCS for 99 paise per acre via a Government Order on April 21, 2025. Negotiations began under YSRCP’s YS Jagan Mohan Reddy, delayed by COVID-19. Venkatareddy questioned the giveaway of land worth thousands of crores, noting only 2,000 of TCS’s 12,000 jobs may benefit locals, as the coalition opposed YSRCP’s 75 percent local hiring policy. Ursa’s representatives, Pendurthi Vijaykumar, his son Kaushik, and Abburi Satish, lack the capacity for their claimed Rs. 5,000 crore investment. No GO for Ursa suggests secrecy, unlike TCS.
Refuting anti-industry claims, Venkatareddy cited YSRCP’s growth of IT startups from 161 to 425, and jobs from 27,643 to 75,551. YSRCP demands an investigation, document disclosure, and action. “Chandrababu and Lokesh’s scams will face fierce resistance,” Venkatareddy vowed, urging public and media support to protect state assets.