"Rajesh Khanna ruled the Hindi film industry in the 1970s through a series of blockbusters and endeared himself to the audience across the country," the Chief Minister said in a statement.
Reddy extended sympathies to the bereaved family.
The 'romantic era' in Indian films has come to an end with the passing away of Khanna, Chiranjeevi said in a separate statement.
Khanna was truly a 'superstar' and was the envy of other heroes of his time. He was the darling of film audiences, the Telugu megastar said.
"Khanna made an appearance in one of my Telugu films, 'Adavidonga', in 1986 and I was privileged. His death is a great loss to the film industry," Chiranjeevi added.