Mahesh Babu buys plot in posh Jubilee Hills in Hyderabad for Rs. 26 crore

December 11, 2021 - 9:56 AM IST

Telugu superstar Mahesh Babu has purchased a plot in Hyderabad’s posh area Jubilee Hills for Rs. 26 crore, papers accessed by Zapkey.com showed.

Mahesh Babu buys plot in posh Jubilee Hills in Hyderabad for Rs. 26 crore

The plot measuring 1,442 sq yards was sold by Yerram Vikranth Reddy who demolished the earlier house and planned to construct a new structure. But, due to changed circumstances, he decided to sell the plot, the documents showed.

The sale agreement was registered on November 17, 2021. Mahesh Babu paid a stamp duty of Rs 1.43 crore and a transfer duty of Rs. 39 lakh, the documents exhibited.

There was no response from the star.

Plot sizes in Jubilee Hills are generally upwards of 1,000 sq yards and command between Rs 1.5 lakh and Rs. 2 lakh per sq yard if not more, brokers active in the area told. Prices in the neighborhood have conventionally been higher than in other places as the city’s elite reside there and agreements happen through word of mouth.

Property rates have surged by 2 to 6 percent in markets such as Hyderabad and Bengaluru with more tech companies and start-ups setting up offices in these cities and reviving their leases, urging higher demand for housing.

On the work front, Mahesh Babu is currently shooting for Shivam and Sarkaru Vaari Paata which will be released in 2022.

Also Read: Mahesh Babu’s Sarkaru Vaari Paata to not clash with Prabhas’ Radhe Shyam; to release in April