Nandamuri Balakrishna has agreed to surrender a portion of his residential property for road-widening works around Hyderabad’s KBR Park. The move is part of efforts to improve junctions and ease traffic congestion as the city works towards implementing a more efficient one-way traffic system.
The total land acquisition from three properties stands at 1,812.10 square yards. Balakrishna’s residence accounts for 862.77 square yards, while Shabdhalaya Studios will give up 608 square yards and Bhavya Constructions another 341.33 square yards. The owners have reportedly agreed to accept Transferable Development Rights (TDR) instead of monetary compensation.
The land involved is reportedly valued at several crores of rupees. At an estimated market rate of Rs 4 lakh to Rs 5 lakh per square yard, Balakrishna’s portion alone could be worth approximately Rs 34.5 crore to Rs 43.1 crore. The combined value of all three properties could range from Rs 72.5 crore to Rs 90.6 crore, based on the same rate.
Balakrishna’s Jubilee Hills residence was built by his father, N.T. Rama Rao, in 1982. The proposed road-widening works are expected to affect part of the property.
