Akkineni Nageshwara Rao’s Annapurna Studios’ Land, Bought At Rs 1.5 Lakh, Is Now Worth Rs 650 Crore

Akkineni Nageswara Rao was one of the stalwarts of Telugu cinema. He is revered to date by successive generations of Telugu audiences. He received adulation from the audience for his remarkable acting prowess in 271 films. Akkineni Nageswara Rao had also built the Annapurna Studios, a prominent film production in the Telugu cinema. According to the reports, in 1976, the then-Andhra Pradesh government allotted 22 acres of land to Akkineni Nageshwara Rao, where he wanted to build a studio. According to a Deccan Herald report, the government allotted the land — situated in the posh Banjara Hills locality — for the promotion of the Telugu film industry in Hyderabad. The actor managed to secure it at a nominal price ranging from Rs 7,500 to Rs 8,000 per acre, which meant the entire land did not cost him much over Rs 1.5-1.8 lakh.

Akkineni Nageswara Rao built the Annapurna Studios. A Deccan Chronicle report noted that the price of the land at that time was around Rs 30 crore per acre. Now, the entire stretch of land can be worth over a staggering Rs 600-650 crore.

Reliance MediaWorks, an Anil Ambani-led film and entertainment company, has now taken over the Annapurna Studios. Anil Arjun, CEO of Reliance MediaWorks interacted with DNA Money regarding this matter. Anil said, “This is a first of its kind deal in the film industry. We will be able to expand our presence to the Telugu film industry, which is the second biggest in the country after Bollywood.”

Coming back to Akkineni Nageswara Rao, he started a new era of cinema, and the word superstar was reportedly coined for the first time to describe him in the Telugu industry. For his contribution to Indian cinema, he was simultaneously honoured by the Indian government with the Padma Shri on January 26, 1968.

Unlike his counterparts, Akkineni Nageswara Rao stayed away from politics, even after being prompted to do so by his friend and another renowned actor NT Rama Rao. Akkineni Nageswara Rao was also offered important positions when NT Rama Rao took over as Chief Minister of Andhra Pradesh, but he turned them down.