CBN Cancels Hayagreeva Farms Land in Vizag

In a welcome development, the Andhra Pradesh government has canceled the allotment of 12.51 acres of land given to Hayagreeva Farms and Developers in Visakhapatnam that was earlier allocated for elderly care. The land was originally allotted in 2008 for constructing housing for senior citizens and orphans. However, an investigation by the Enforcement Directorate (ED) revealed that the company fraudulently sold the land to multiple buyers, generating over ₹150 crore in illegal proceeds.

Following this, the AP government on Monday issued a GO and directed the Visakhapatnam District Collector to reclaim the land and repurpose it for public use.
Earlier in February, the Enforcement Directorate (ED), Visakhapatnam, has provisionally attached 14 immovable properties worth ₹42.03 crore and six movable properties worth ₹2.71 crore belonging to Hayagreeva Farms and Developers. These assets were seized under the Prevention of Money Laundering Act (PMLA), 2002. The total value of the attached properties stands at ₹44.75 crore.

The properties belong to multiple individuals and entities, including MVV Builders, Hayagreeva Infratech Projects Limited, Gadde Brahmaji and his wife, Chilukuri Jagadeeswarudu, Chilukuri Radha Rani, Hayagreeva Projects, and Varanasi Dileep.
The ED launched its investigation after an FIR was registered at Arilova Police Station in Visakhapatnam. The case involves allegations of forgery, document tampering, and coercion to acquire government-allotted land. Those named in the case include Gadde Brahmaji, Gannamani Venkateswara Rao, and former YSRCP MP MVV Satyanarayana.

In 2023, the ED conducted raids at the properties of MVV Satyanarayana as part of its investigation. Officials found that Hayagreeva Farms and Developers officially acquired the land in 2010 for ₹5.63 crore. However, government records indicate that the actual market value at that time was around ₹30.25 crore as per the AP Registration & Stamps Department.

Further investigations revealed that from 2021 onwards, the accused divided the land into smaller plots and sold them through fraudulent agreements and sale deeds. This illicit activity reportedly generated over ₹150 crore in illegal profits.

The Andhra Pradesh government’s latest action cancelling the land over fraudulent practices marks a significant move in addressing land fraud and ensuring public assets are used for their intended purpose.