Jagan’s Lotus Pond bungalow valued at Rs 85 crore

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As much as Rs 60 crore was allegedly spent on building Kadapa MP Y.S. Jagan Mohan Reddy’s bungalow at Lotus Pond in Jubilee Hills and another Rs 25 crore was spent on purchasing the land.

On Thursday the CBI started evaluation of the money spent on purchase of land and construction of the bungalow by Jagan Mohan Reddy and his alleged benami firms or business partners who were allegedly given projects on a platter by the YSR Reddy government.

Though officials did not divulge any details, sources said over Rs 85 crore was spent to build the edifice on 5,807 square yards of land with a built-up area of 88,000 square feet. The cost includes the land value and interiors.

The CBI, along with teams from the National Remote Sensing Agency (NRSA), local Income-Tax and town planning wing officials of GHMC conducted the evaluation which is likely to continue on Friday too.