GVK Group Founder Sells Two Luxury Properties in Posh Jubilee Hills, Hyderabad

GVK Group Founder Sells Two Properties in Hyderabad

GV Krishna Reddy, the founder and head of the infrastructure firm GVK Group, has sold two residential homes in Hyderabad for around INR 73.81 crore.

Potukuchi Naga Nandini, the wife of Potukuchi Murali Mohana Rao, an entrepreneur with commercial interests in infrastructure, real estate, and agriculture, purchased two homes of 1,386 and 1,426 square yards in the upscale Jubilee Hills.

According to papers given by Zapkey, an aggregator of property registration data, the sale was finalised in early 2023.

The properties were valued at INR 73.8 cr and the sale transactions attracted INR 5.6 cr in stamp duty.

The affluent Jubilee Hills has attracted the wealthy and famous, including notable Tollywood celebrities, politicians, and entrepreneurs seeking low-density residential regions.

According to Zapkey statistics, Dasari Abhiram Reddy, a film director and actor, recently sold an independent home for 30 crore while Nandamuri Jayakrishna, the son of former Andhra Pradesh chief minister NT Rama Rao, purchased a property for INR 35 crore.

The luxury real estate market in Hyderabad has been growing consistently and during the last two years, the city has seen more than 200 residential and land transactions.

The GVK Group has emerged as one of India's leading infrastructure development providers. Apart from airports, energy and motorways, GVK has a presence in hospitality and urban infrastructure. "Property prices in the (Jubilee Hills) area have traditionally been high as the city's elite reside in this neighbourhood, and transactions happen mostly through word of mouth as per a leading real estate agent in Hyderabad.