Jubilee Hills is the city's happening location, with everything and everyone living and owning their business in the area. Cars, bikes, entertainment, artists and their residences, business people and their establishments and expensive homes, best schools, hospitals, political offices, religious places, you name it, the place has got everything. The area known for the famous and rich people having their huge and fancy residences is going to have a new and well-known neighbor soon.
Chairman and founder of GVK group, G V Krishna Reddy, has purchased an independent house valued at 23 crore spread area, a huge area of 6,023 square feet. The total land that has been purchased comes at around 1,447 square yards. The per square yard value is about 1.60 Lakh. After hearing the purchase by GVK, the brokers in the area have exclaimed that the rate is not expensive for the house's location.
Apart from paying for the house, the conglomerate founder paid a considerable amount of money for Stamp Duty which comes at Rs.1.43 crore, the transfer duty of Rs.35 Lakh, and an 11 Lakh registration fee. This is the third big-budget purchase of a residence in the area after the owner of Ctrl S, a data center organization, purchased a house for a whopping Rs.48 crore with an area of 2644 square yards, along with N Venkata Reddy from Virchow Laboratories, who bought at Rs.41 crore house in the same area.
GVK will soon move into the new residence and will have new neighbors who are business tycoons or the glamourous Tollywood who live in large numbers in the Jubilee Hills area.