Nagarjuna Akkineni's ₹400 crore N-Convention center demolished; suffers a humungous loss

Tollywood star Nagarjuna Akkineni has been in the news after his N-Convention Center in Hyderabad's Madhapur area was demolished by the Hyderabad Disaster Response and Assets Monitoring and Protection (HYDRA). The convention center, owned by Nagarjuna, was reportedly built illegally within the Full Tank Level (FTL) area and buffer zone of Thammidikunta Lake. This situation led Nagarjuna to issue a statement on his X account. According to recent reports, Nagarjuna may have lost around ₹400 crore due to the demolition.

Nagarjuna Akkineni claimed that his N-Convention Center followed all the necessary guidelines, but HYDRA insisted that the facility was illegal. A report from Track Tollywood suggested that the convention center was worth between ₹400 to ₹500 crore and was one of Hyderabad's most popular venues, generating significant revenue for the actor.

If these reports are true, this could be a huge financial loss for Nagarjuna Akkineni. Interestingly, no major Tollywood figures have come forward to support the Nirmala Convent actor. In his X post, Nagarjuna mentioned that news about celebrities can often be exaggerated or speculative. He defended his convention center, stating that it was built on land with proper documentation and that not even one percent of the surrounding land was encroached upon. He urged his fans not to believe in the rumors about the situation.

On the work front, Nagarjuna Akkineni will soon appear in the movie Kubera, directed by Sekhar Kammula, alongside Dhanush. The film’s teaser, which also features Rashmika Mandanna and Jim Sarbh, was recently released and has sparked interest among fans.