Hyderabad: Owner of business conglomerate GVK Group, The 6,033 square feet bungalow, which has bottom plus one flooring construction, unfolds over a complete land parcel of one-third of an acre who is stuck in cases of both Central Bureau of Investigation (CBI) and Enforcement Directorate (ED), has now purchased a plush bungalow for Rs 23.15 crore, reports said.
The 6,033 square feet bungalow, which has bottom plus one flooring construction, unfolds over a complete land parcel of one-third of an acre in the city’s Jubliee Hills, moneycontrol said.
The report confirmed that Reddy has purchased the bungalow, which was constructed 15 years in the past, from two sellers on July 16, as per the paperwork accessed by Zapkey.com.
The total land area is 1,447 sq. yard, which takes the per sq. yard value to be around Rs 1.60 lakh. According to the document, 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).
In June last year, the CBI booked a case against the GVK Chairman GV Krishna Reddy, his son Venkata Sanjay Reddy, Mumbai airport Managing Director GV Sanjay Reddy and eight others, including people from the AAI on charges of cheating and forgery for alleged irregularities to the tune of Rs 705 crore in the running of the airport.
Then, the ED filed a money laundering case against the GVK Group, MIAL and others on July 12 to probe the alleged irregularities.
In the last five years, Jubilee Hills recorded as many as 120 sale transactions above Rs 10 crore, revealed Zapkey.com, which aggregates publicly available property registration data.