Nandamuri Balakrishna, a Tollywood actor and politician, purchased a house in Hyderabad's upscale Jubilee Hills area for Rs 15 crore.
The property comprises two floors and a ground level and the total built-up area is 9,395 sq.ft. Balakrishna and his wife jointly purchased the property. The couple paid Rs 82.5 lakh in stamp duty and Rs 7.5 lakh in registration fees as per registration documents.
Real Estate in Jubilee Hills, Hyderabad
In Hyderabad, even during Covid-19, there was a burst of deals in the area making it a perfect location for independent low-density floors.
In the last five years, as many as 120 sales transactions above Rs 10 crore have been identified in the Jubilee Hills area, which aggregates publicly available data on property registration. In 2020, 17 sales transactions in Jubilee Hills exceeded Rs 10 crore and buyers included were famous Tollywood actors, politicians and industrialists.
In Jubilee Hills, realtors informed that normally there were over 1,000 sq.yds plots available and the price ranges between Rs 1.5 lakh to Rs 2 lakh per sq.yd.
There has been an increase in the demand for properties in the area during the pandemic as more individuals prefer to shift to low-density developments instead of scouting for luxury flats in densely populated multi-storey buildings.