Tollywood actor and politician Nandamuri Balakrishna, son of the late NT Rama Rao, former chief minister of the erstwhile Andhra Pradesh, has bought a house in the posh Jubilee Hills area in Hyderabad for Rs 15 crore.
The sale took place on February 11, 2021. The seller is Nadimpalli Satya Sravani, according to documents accessed by Zapkey.com.
The property comes with a ground level and two floors and the total built-up area is 9,395 sft, per the registration document. Moneycontrol has a copy of the document.
The property has been jointly bought by Balakrishna and his wife Nandamuri Vasundhara Devi, the documents reveal.
The couple paid a stamp duty of Rs 82.5 lakh and a registration fee of Rs 7.5 lakh.
There has been a flurry of deals in Hyderabad even during Covid-19 with the who’s who of the city making a beeline for low-density independent floors.
A businessman and owner of a pharma company recently bought an independent house, located in the same area, for a whopping Rs 41.3 crore, documents made available by Zapkey.com reveal. The real estate website says this is the largest deal in Jubilee Hills. The property was registered on January 28, 2021. A copy of the registration document is with Moneycontrol.
The buyer, N. Venkata Reddy, is the owner of pharma company Virchow Laboratories Limited. The property is on a plot of land admeasuring 1,837 square yards or 1,537 sq. metres. He paid a stamp duty of Rs 2.27 crore and Rs 20 lakh as registration fee, according to the document
The Jubilee Hills area has recorded as many as 120 sale transactions above Rs 10 crore in the last five years, according to 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 Tollywood, politicians and industrialists.
Leading Tollywood actor Akkineni Naga Chaitanya also bought an apartment in January 2020 for Rs 27.1 crore, according to Zapkey.com
Brokers active in the area say plot sizes in Jubilee Hills are generally upwards of 1,000 sq. yards and command anywhere 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,” said a local broker.
It should also be noted that the Telangana government stopped registering properties in the first week of September 2020. The State government had said that a new process was being introduced to register properties. Last November, a website called dharani.telangana.gov.in was made available for registration of agricultural properties
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