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This is an archive article published on October 21, 2011

CBI begins evaluation of Jaganmohan’s properties

The Central Bureau of Investigation on Thursday started the process of evaluating Y S Jaganmohan Reddy’s properties including his palatial mansion in Banjara Hills.

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The Central Bureau of Investigation on Thursday started the process of evaluating Y S Jaganmohan Reddy’s properties including his palatial mansion in Banjara Hills.

A team of CBI officers sifted through sale and purchase documents of the land,building plans,and bills and payments made for marble,glass,and other materials used in the house. Officials are also evaluating other properties in adjoining areas of Banjara Hills.The process is part of the investigation against Jaganmohan for allegedly amassing wealth illegally. CBI officials said it will take some time and they cannot assess the value of the properties immediately.

The house,named Lotus Mahal,is constructed on nearly 53,000 square feet. The market value of the four-storeyed building is over Rs 300 crore. Sources say the two buildings comprise a gymnasium,tennis,squash and volleyball courts,a 200-seat capacity mini-theatre,several escalators,and a three-floor underground parking. It has 20 servants’ quarters and an outhouse.

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