The occupants of the house had gone to Tirupati and returned this evening, said police.
A case in this regard has been filed with the Ongole 1 town police.
The thieves targetted the house of Appala Koteswara Rao who owns a petrol bunk in the town and finances different businesses.
When Koteswara Rao returned this evening, he found his house broken and valuables missing from the safe vault, said police.
Senior police officials rushed to the spot on being informed about the theft.