Pawan Kalyan buys bungalow in Hyderabad’s Jubilee Hills for Rs 12 crore

Pawan Kalyan. Image credit: Wikimedia.

Telugu actor Pawan Kalyan bought a 676-yard bungalow in Hyderabad’s posh Jubilee Hills area recently for Rs 12 crore, documents accessed by Zapkey.com have shown.

The sale deed was registered on September 23, 2021. Kalyan,, the younger brother of actor-politician Chiranjeevi,  paid a stamp duty of Rs 66 lakh, transfer duty of Rs 18 lakh, registration fee of Rs 6 lakh and mutation charges of Rs 1.2 lakh, the documents showed.

Pawan Kalyan, whose real name is Konidala Pawan Kalyan, bought the 6350 sq ft bungalow for Rs 12 crore, the documents showed.

Kalyan made his debut in Telugu cinema in 1996 with the film Akkada Ammayi Ikkada Abbayi. He starred in Tholi Prema in 1998, which won the National Film Award for Best Feature Film in Telugu that year.

He received the Filmfare Award for Best Actor – Telugu for Gabbar Singh while Attarintiki Daredi held the record of being the highest-grossing Telugu film.

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In 2008, Pawan Kalyan entered politics, as the president of youth wing of Praja Rajyam Party, founded by his brother Chiranjeevi. He left the party after Chiranjeevi merged it into the Congress party. In March 2014, Pawan Kalyan founded the Jana Sena Party.

There was no response from Kalyan’s office on the transaction.

In the last five years, Jubilee Hills recorded as many as 120 sale transactions above Rs 10 crore, as per Zapkey.com, which aggregates publicly available property registration data.

In 2020, there were 17 sale transactions above Rs 10 crore in Jubilee Hills and buyers included prominent celebrities from the 'Tollywood' film industry, politicians and industrialists.

Brokers active in the area say plot sizes in Jubilee Hills are generally upwards of 1,000 sq. yards and command anything between Rs 1.5 lakh per sq. yard to Rs 2 lakh per sq. yard if not more.

“During the pandemic, there has been an increase in demand for properties in the area as more people, especially the ‘who’s who’, are preferring to shift to low-density developments rather than scout for luxury flats in densely populated multi-storey buildings,” says a local broker.

Also, prices in the area have conventionally been high as the city’s elite reside there and transactions happen through word of mouth.

Venkateswarlu Jasti, chairman of Suven Pharmaceuticals, recently sold an independent house, located in the posh Jubilee Hills area, for Rs 34.75 crore.

The property, registered under an entity named SVMJ Property LLP, is located in Hyderabad’s posh Jubilee Hills area. The sale was recorded on August 21, 2021, and a stamp duty of Rs 2.64 crore was paid on the transaction, the documents showed.

Earlier, owner of business conglomerate GVK Group, which focuses on infrastructure, energy, resources and airports, had bought an independent house spread across 6,033 square feet in Hyderabad’s posh Jubilee Hills area for Rs 23.15 crore.

GV Krishna Reddy, chairman of GVK Group, bought the plot on July 16. The total land area is 1,447 sq. yard, which takes the per sq. yard value to be around Rs 1.60 lakh. This, say local brokers, is a fair market price.

In one of the priciest deals in Hyderabad’s posh Jubilee Hills area, an owner of a data centre company CtrlS, bought a 2,644 square yards property for Rs 48 crore in April, 2021.

Pinnapureddy Sridhar Reddy, owner of CtrlS, bought the property in the name of Cloud4CTechnology LLP, where he is a partner. The seller was Suryanarayana Raju Nandyala.