Basha was on his way to his hometown Guntur when the SUV he was travelling in hit the road divider and turned turtle, killing him on the spot.
The vehicle driver sustained serious injuries, police said.
Basha was elected to Lok Sabha from Guntur in 1991 in a stunning victory over veteran parliamentarian Acharya N G Ranga.
He, however, lost subsequent elections to Lok Sabha from Guntur and Narsaraopet constituencies.
TDP chief N Chandrababu Naidu has expressed shock over the tragic death of Basha.
TDP MPs N Harikrishna, C M Ramesh, Y S Chowdary, MLC Yanamala Ramakrishnudu and other senior leaders also mourned Basha's death.
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