Table of Content
- Bollywood Stars Making Big Moves in Real Estate
- 1) Suniel Shetty and KL Rahul Buy Land for ₹9.85 Crore
- 2) Akshay Kumar Sells Properties Worth ₹103 Crore
- 3) Amrita Puri Buys Luxury Apartment for ₹37 Crore
- 4) Rahul Vaidya and Family Sell Flats in Oshiwara for ₹5 Crore
- 5) Kajol Sells Powai Apartment for ₹3.1 Crore
- The Influence of Bollywood Stars on Mumbai’s Real Estate Market
- Why Are Bollywood Stars Investing in Real Estate?
- Conclusion
Mumbai's real estate landscape has captured the eyes of many, especially considering the recent movement. A handful of Hindi film industry celebrities have been in the news with multiple high real estate transactions leading apartment sales of over ₹150 crores, and the podium Bollywood has with the celebrity transactions is huge with both land purchases and high-profile apartment sales.
Bollywood Stars Making Big Moves in Real Estate
Bollywood stars have surged in the Mumbai luxury property market in the last 60 days - we are talking an immense amount of transactions worth hundreds of crores of real estate transactions. These transactions are substantial proof of the increasing demand and desirability for luxury properties in the country's financial capital. Let's highlight some of the transactions involving Bollywood celebrities:
1) Suniel Shetty and KL Rahul Buy Land for ₹9.85 Crore
Suniel Shetty, the Bollywood actor, and cricketer KL Rahul, Suniel's son-in-law, have made a significant investment in a seven-acre land plot near Mumbai. The vacant land, in Owale in Thane West, was acquired for ₹9.85 crore. Shetty's purchase is a testament to the growing trend of land deals with celebrities to be developed personally or for others in the future.
Also Read: Ajay Devgn Signs ₹5.47 Lakh Monthly Lease for 2,500+ sq ft Office Space in Andheri, Mumbai
2) Akshay Kumar Sells Properties Worth ₹103 Crore
Bollywood actor Akshay Kumar (one of the highest-paid actors in that industry) for his part, has sold 3 properties in Mumba for a total sale amount of ₹103 crore, in Borivali, Worli, and Lower Parel. The properties were an ultra-luxury apartment, and some commercial office space. Given his status as a film star, Akshay Kumar's actions represent a trend that is firmly establishing itself in the coming days, whereby stars are investing in resources and profiting in returns.
3) Amrita Puri Buys Luxury Apartment for ₹37 Crore
Bollywood actress Amrita Puri and her father Aditya Puri recently made a splash in the Mumbai real estate market by purchasing a lavish ₹37-crore apartment in Lower Parel, one of Mumbai's most exclusive addresses. Located on the 49th floor of one of India's tallest buildings, Lodha World Towers, the spacious apartment measures a substantial 5,446 sq ft . The purchase reaffirms Bollywood celebrities' penchant for opulent dwellings in spectacular locations.
4) Rahul Vaidya and Family Sell Flats in Oshiwara for ₹5 Crore
Bollywood singer Rahul Vaidya, along with his family, recently sold two flats in Mumbai’s Oshiwara area for ₹5 crore. The properties, located in the Samartha Aangan project, span nearly 2,000 sq ft. This sale further emphasizes the role of Bollywood stars in Mumbai’s luxury real estate market, where they are both buyers and sellers of prime properties.
5) Kajol Sells Powai Apartment for ₹3.1 Crore
Kajol Vishal Devgan, another popular Bollywood actress, was in the news for selling an apartment in the Powai area for ₹3.1 crore. The 762 sq ft apartment, located on the 21st floor of the Atlantis Co-Operative Housing Society Limited in Hiranandani Gardens, Powai, comes with two parking spaces. Along with the sale, Kajol also made a major purchase, acquiring a commercial space worth ₹28.78 crore in Goregaon West, showcasing the diversified real estate interests of Bollywood stars.
The Influence of Bollywood Stars on Mumbai’s Real Estate Market
The influence of Bollywood stars in Mumbai’s luxury real estate market cannot be overstated. Their involvement in high-value deals drives demand for upscale properties, contributing to the market’s growth. Whether buying land, selling high-end apartments, or investing in commercial spaces, these celebrities play a significant role in shaping trends and elevating the profile of luxury living in Mumbai.
Also Read: Vicky Kaushal Extends Lease on Luxurious Juhu Apartment for ₹6.2 Crore
Why Are Bollywood Stars Investing in Real Estate?
There are several reasons why Bollywood stars are increasingly turning to real estate investments:
- Wealth Diversification: Real estate is a solid asset class that provides stability and potential for long-term returns.
- Status Symbol: Owning luxury properties in prime locations is a status symbol for high-net-worth individuals, particularly celebrities.
- Secure Investments: Real estate provides a secure investment option compared to volatile markets like stocks and shares.
Conclusion
The increasing involvement of Bollywood actors in luxury residential property market of Mumbai reveals the impact of these stars in the property market. Be it buying land, or luxury apartments or selling them, presence of Bollywood stars and their engagement with the residential and luxury residential property market serves as a catalyst in the maturing process of the real estate in Mumbai, which is the financial capital of India. Even while stars are looking to buy and sell property in Mumbai's market, we can clearly see real estate moving forward, star power and large value deals included.
In the coming years, expect to see more real estate transactions involving Bollywood stars, as their involvement continues to evolve and avail possibilities in Mumbai's luxury property market.
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Ans 1. Bollywood celebrities are increasingly involved in the luxury real estate market due to reasons such as wealth diversification, securing long-term investments, and the status symbol that comes with owning high-end properties in prime locations.
Ans 2. Suniel Shetty and KL Rahul bought 7 acres of land in Thane West for ₹9.85 crore. Akshay Kumar sold 3 properties across Borivali, Worli, and Lower Parel for ₹103 crore. Amrita Puri purchased a ₹37-crore luxury apartment in Lower Parel. Rahul Vaidya sold two flats in Oshiwara for ₹5 crore. Kajol sold an apartment in Powai for ₹3.1 crore and also bought a commercial space in Goregaon West for ₹28.78 crore.
Ans 3. Bollywood celebrities are buying and selling a mix of luxury apartments, commercial spaces, and land plots. Properties are typically located in upscale neighborhoods like Lower Parel, Worli, Powai, and Goregaon.
Ans 4. Their high-value transactions not only drive demand for luxury properties but also elevate the desirability of exclusive locations in Mumbai. Their involvement contributes to the growth of the market and increases the visibility of upscale living options.
Ans 5. Real estate offers a secure and stable investment compared to more volatile markets like stocks. Additionally, luxury properties act as a status symbol, reflecting the celebrity’s high-net-worth profile.
Ans 6. Investing in land and commercial spaces provides long-term returns, secures wealth, and contributes to a diversified investment portfolio. Commercial spaces also offer a source of rental income, making them a strategic investment choice.
Ans 7. As the luxury real estate market in Mumbai continues to thrive, we can expect more Bollywood stars to engage in property transactions, both as buyers and sellers, further shaping the city’s high-end real estate landscape. Their influence will likely continue to fuel the growth and maturation of Mumbai's property market.
Ans 8. The involvement of Bollywood stars in high-value property deals often sets trends and attracts other high-net-worth individuals, thereby increasing demand for luxury properties and potentially driving up property prices in sought-after locations.