Amidst the vibrant landscape of Mumbai’s real estate in 2023, various Bollywood celebrities engaged in a spectrum of property transactions, showcasing a mix of selling bungalows for redevelopment, acquiring luxurious apartments, and venturing into commercial real estate.
Commercial Ventures of Bollywood Stars
Several renowned names including Amitabh Bachchan, Kartik Aryan, Sarah Ali Khan, Kajol, Manoj Bajpayee, and Ajay Devgn made substantial investments in commercial properties totaling approximately Rs 150 crore within Mumbai’s western suburbs. The intent behind these acquisitions revolves around renting out these spaces to capitalize on their investments. For instance, Bachchan leased four commercial units in Oshiwara in August 2023, generating an annual income of Rs 2.07 crore.
Key Individual Transactions
Salman Khan entered the news cycle for leasing a considerable 23,042 sq ft of retail space in Santacruz to Landcraft Retail, earning an annual rent of about Rs 12 crore. Additionally, he secured a 1,300 sq ft apartment in Bandra for a monthly rent of Rs 1.5 lakh over three years.
Suhana Khan, daughter of Shah Rukh Khan, made a noteworthy investment by purchasing 1.5 acres of agricultural land in Alibag for Rs 12.91 crore.
Other Significant Purchases and Sales
Film producer Dinesh Vijan made a notable acquisition of a vast 9,000 sq ft residential property in Bandra for Rs 103 crore, while Alia Bhatt’s production house bought a 2,497 sq ft apartment in the same area for Rs 37.80 crore.
Actors Ranveer Singh and Akshay Kumar were also part of the real estate buzz. Singh sold two flats in Goregaon for Rs 15.25 crore, purchased in 2014 for Rs 4.64 crore each. Meanwhile, Kumar sold a property in Andheri for Rs 6 crore, bought in 2017 for Rs 4.12 crore.
Notable Transactions by Specific Celebrities
John Abraham made headlines by purchasing a 5,000 sq ft bungalow in Khar for Rs 70 crore, while the properties of late superstar Dilip Kumar and actor Aamir Khan went for redevelopment during the year.