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Bollywood star Kajol Devgan's latest investment in Mumbai has been making headlines. Kajol Devgan recently added a retail property in Goregaon West to her growing portfolio. Kajol's move to diversify her investment portfolio in high-value assets is reflected by this commercial property valued at around Rs29 crore.
The retail space is 4,365 square feet in size and located at Linking Road, Bangur Nagar Goregaon West. The deal, which was signed on March 6, 2020, included a stamp tax payment of Rs1.72 lakh. It was acquired from Bharat Real Estate Ventures Pvt. Ltd. This purchase, which comes out to Rs65,940 per square foot, highlights the high prices in Mumbai's commercial property market.
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Kajol Devgan made the decision to invest in commercial property at a time where many celebrities seek higher rental yields than residential investments. Film stars have been attracted to commercial properties in Bandra and Khar for years due to their high returns and strategic location. Kajol's purchase is more than just a real estate investment. It's also a smart one that will provide her with a steady income from leasing.
Kajol has made significant investments in Mumbai real estate, including the retail space she owns in Goregaon West. In 2023 she bought an office in Mumbai from a well known development in Andheri West for Rs7.64 billion. She also purchased an apartment from the same seller for Rs16.50 billion. Her previous investments show her interest in property that offers both long-term appreciation and commercial value.
Why Celebrities Are Investing in Commercial Real Estate
Commercial properties are attractive to investors of high profile like Kajol devgan for several reasons:
- Rent Yields are Higher: Commercial properties offer higher rental yields than residential units. This makes them an attractive investment.
- Diversification of assets: Diversifying your real estate investments helps to mitigate risk and provides a stable income.
- Strategic Location: Property in commercial hubs such as Mumbai is more likely to increase in value due to the robust infrastructure and increasing demand.
- Real estate investments can also have emotional value for celebrities and add to their brand image. They reflect sophistication and financial acumen.
Mumbai's commercial property market is evolving and celebrities like Kajol Devgan will likely set new standards. High-profile purchases can attract both institutional and individual investors to the city, which is a hub of commerce and luxury.
Kajol Devgan’s recent purchase of a retail property for Rs29 crore in Goregaon West shows her growing confidence in Mumbai’s commercial real-estate market. Kajol's purchase diversifies her investment portfolio and confirms the trend of celebrities turning to real estate as a long-term financial security. Watch out for the latest updates on Mumbai's real estate market.
Also Read: Amitabh Bachchan Sells Mumbai Duplex for ₹83 Crore
Ans 1. Kajol Devgan acquired a 4,365 sq ft retail property in Goregaon West on Linking Road, Bangur Nagar for ₹29 crore, with a stamp tax of ₹1.72 lakh.
Ans 2. She’s diversifying her portfolio for higher rental yields and long-term appreciation. Celebrities are drawn to commercial properties for stable income and strategic location benefits.
Ans 3. Kajol has previously invested in high-value properties in Mumbai, including offices and apartments, showing a focus on assets that offer both long-term growth and robust commercial returns.
Ans 4. The purchase reflects strong demand in Mumbai’s commercial sector, highlighting the market's premium pricing and the appeal of strategic locations, which attract both domestic and international investors.
Ans 5. This high-profile deal highlights the strong demand for premium commercial properties in Mumbai, with rising rental yields and growing investor confidence driving market growth.