If the ongoing reports are anything to go by, the iconic Tollywood studio Ramanaidu Studios at Nanakramguda will be destroyed soon. Apparently, Suresh Babu is planning to convert the studio into a posh gated community.
The buzz is that Suresh Babu has entered into an agreement with a popular realtor to develop the land into a gated community since there are several gated communities and residential complexes surrounding the studios. The studio’s net worth is valued at Rs 400 crores and it generates at least Rs 2 crore revenue each year.
The veteran producer is planning to develop Ramanaidu Studios in Vizag. In fact, Rana’s ambitious mythological epic, Hiranyakasipha, has been shifted to the Vizag studios, where giant sets are being constructed already.