The last chief minister of erstwhile combined Andhra Pradesh, Nallari Kiran Kumar Reddy has purchased a property in Banjara Hills on September 16. The 1747-square yards plush property in Banjara Hills with a built-up area of 2877 sq ft was sold by Sable Property Holdings Pvt Ltd.Papers secured by Zapkey.com confirmed the same. The bungalow is worth Rs 11 crore, and Sable Property Holdings Ltd is a GAR Corporation Company, as per the documents. However, either party did not respond to media queries.
A while ago, Tollywood star Pawan Kalyan too bought a bungalow in the plush Jubilee Hills area. The famous address of who’s who of Hyderabad, Pawan Kalyan’s property, is set in 676 yards and is worth Rs 12 crore. Incidentally, in the past few days, there have been 120 sale transactions in Jubilee Hills, according to Zapkey.com, which aggregates publicly available property registration data.
As compared to this year, there were 17 sale transactions above Rs 10 crore in Jubilee Hills, and buyers included Tollywood personalities, politicians, and industrialists. As per local brokers, there has been an increasing demand for properties in the area ever since COVID broke out.
They share that many well-heeled now want to live in less densely populated neighborhoods rather than living in highly dense luxury apartment blocks. Transactions in the area happen mostly by word of mouth.
As for Kiran Kumar Reddy, he resigned as AP CM, MLA, and Congress member in 2014. However, he later re-joined the Congress after four years.