Useless Alliances! Balakrishna’s Recent Property Moves Indicate Dwindling Hope in TDP’s Inner Ring

If someone asks the question, “Will the TDP coalition come to power in the upcoming elections?” the TDP ranks do not seem to be in a position to answer it with a strong ‘Yes’. Recent surveys suggest a YSRCP victory, causing confusion among TDP leaders. It seems that even TDP MLA Balakrishna also acknowledges this likelihood. His thought process can be assessed by the way he acted after CM Jagan declared his decision to make Visakhapatnam the administrative capital. Despite TDP’s strong opposition to this, Balakrishna purchased a plot in Rushikonda Beach Road for Rs 65 crore in January. A new company has been formed to make this purchase, with Balakrishna and his family owning all shares.

It appears that TDP leader Nandamuri Balakrishna has indirectly signified Jagan coming back to power even before the elections. Balayya bought over two acres of land in Rushikonda anticipating Jagan will stand on his word and make Visakhapatnam the capital. Previously Balakrishna had also purchased land in Amaravati when it was still the capital under Babu’s rule. Initially purchased for around Rs 6.5 crores, the value of this land in Amaravati later depreciated to Rs 2.4 crores. Experts suggest Balakrishna’s move to buy land in Rushikonda stems from TDP’s dwindling prospects and disillusionment with Amaravati, as he believes Visakhapatnam possesses all the necessary qualifications for the capital. Allegedly, Balakrishna’s son-in-law struck a deal to purchase land adjacent to Koneru Ramakrishna Rao’s family in Visakhapatnam. It is yet to be known whether he invested in other areas in Vizag as well. If so how many places? Did Lokesh inform Balayya of YSRCP’s likely victory? Or was it Balakrishna’s daughter Brahmani? The speculations around this are boundless.

Also Read: Coalition Concerned Over YSRCP Manifesto, CM Jagan to Finalize Soon

Balakrishna instructed his family members in January to scout for prime locations in Rushikonda. Subsequently, he himself acquired a substantial plot facing the beach road, previously owned by the Koneru family, for Rs 65 crore. To maintain discretion, Balakrishna set up NBK Classic-2, a limited liability partnership company, wherein his family holds 100 percent shares. He personally owns 25 percent of the land through this entity, while 30 percent is held as HUF property, and the remaining 45 percent is distributed among his wife and children. These details were disclosed in his recent election affidavit, and the transactions have garnered attention on social media.