GV Krishna Reddy, the owner of the GVK group bought a sprawling land for an independent house that spreads over 6,033 square feet for Rs. 23.15 crores in Jubilee Hills. Sparsely populated, Jubilee Hills located in the western zone of Hyderabad has become a home to many entertainers, government officials, and business moguls. 

As per sources, the total land area is 1,447 square yards with “per square yard” costing around Rs. 1.60 Lakhs. Reddy paid a total of Rs 1.43 crore towards stamp duty (Rs 94.2 lakh), transfer duty (Rs 35.26 lakh), registration fee (Rs 11.7 lakh), user charges (Rs 210), and mutation fees (Rs 2.3 lakh). 

Away from the hustle-bustle of city life, many affluent personalities of Hyderabad bought houses in this posh locality of the city to enjoy space, silence, and luxury. Reddy bought another property worth Rs. 23 crores in June 2020. 

Here is a list of some other investments in the area: 

• 2,644 square yards property for Rs 48 crore by the owner of a data centre company called CntlS. 

• Pinnapureddy Sridhar Reddy, owner of CtrlS, bought the property in the name of Cloud4CTechnology LLP.? 

• N Venkata Reddy, the owner of a Pharma company called Virchow Laboratories Limited, purchased a luxurious property in the same area measuring 1,837 square yards or 1,537 sq. metres for Rs 41 crore. 

• Neuland Labs CEO Sucheth Rao Davuluri also bought an independent house in the Jubilee Hills area for Rs 20.7 crore on May 18, 2020.[Text Wrapping Break] 

In 2020, there have been 17 scale transactions over 10 crores in Jubilee Hills with all known faces investing in this area. The cost of? 1 square yard ranges anywhere between 1.5 to 2 Lakh rupees. 

According to a report by Knight Frank India, on account of the pandemic-induced work from home trend, demand for larger homes has picked-up substantially in the Hyderabad residential market over the past few months. 

With no threat of income disruption, affordable prices and low home loan rates, the city experienced the highest-ever home sales.