Visakhapatnam, April 1 (PTI) The YS Jagan Mohan Reddy-led YSRCP on Tuesday alleged a "massive scam" in the allocation of over 13 acres of government land in Visakhapatnam's harbour park area to the Lulu Group.

The party claimed that value of the land is Rs 2,000 crore.

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Bypassing standard procedures such as tenders or Requests for Proposal (RFP), the land was leased for 99 years at a nominal rate, the opposition party alleged.

"This deal appears to be one of the biggest scams because the government could have auctioned the land for greater revenue," said YSRCP in a press release.

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The decision was reportedly based on a letter written by Lulu Group chairman Yusuf Ali to Chief Minister N Chandrababu Naidu in January, and no public notification was issued for competitive bidding, raising concerns over transparency, alleged YSRCP.

The project, including a shopping mall and an IMAX multiplex, receives Rs 170 crores in subsidies and a rent-free period, among other alleged irregularities, said the opposition party.

The State Investment Promotion Board (SIPB) chaired by Naidu approved the proposal on March 13 after discussions began last year, mirroring a 2018 deal under his leadership that the YSRCP later shelved.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)