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Why Bollywood is going gaga for real estate!

We have always known of Bollywood stars and their taste for the finer things in life. Their riches is no news to us but how they use them is definitely hitting the headlines. They retain a wide investment portfolio that varies from owning sporting clubs to restaurants and real estate. However investment in real estate seems to be the top choice for many bigwigs in Bollywood. In the recent past, there have been a number of reports of celebrities investing in luxury real estate in India and abroad. According to recent reports actor Abhishek Bachchan just invested a whopping INR 41 crore in an apartment in Worli, Mumbai. Spread across a sprawling 3875 sq. ft. this apartment overlooks the Mumbai skyline with a stunning view from the 37th floor. This project, called the Skylark Towers at Annie Besant Road, a plush locality in Worli had everyone talking, the moment it was announced. This 372 metre (1220 ft.) tall tower will have luxury apartments, hotels, retail space and office space. Needless to say the residential floors of this super-skyscraper will be restricted to a handful of buyers. The reports further elaborate that the apartment is a 5 bedroom space with a living room, dining room, family room, kitchen and a 20 feet terrace all around the apartment. Bachchan has supposedly paid nearly INR 2.05 crore in stamp duty along with INR 25 lakh and INR 35 lakh in club house membership and development charges respectively. Now this is no ordinary transaction! Many other Bollywood stars have understood the potential of investing in real estate in India and abroad. Our very own SRK leads the bandwagon here. Shah Rukh Khan invested in an apartment in Park Lane area, in Central London for a mindboggling price of £ 20 million, one of the highest transaction values in real estate made by an Indian abroad. SRK also owns a villa in Palm Jumeirah, Dubai. Let’s not forget SRK’s current residence Mannat in Bandra which is valued anywhere between INR 100 and 150 crore. Daddy Bachchan is not far behind in the race. He reportedly has purchased real estate in Dubai, London, New York and recently in Paris. Daddy B might have made a few bad decisions with AB Corp but recently this investment savvy and cash rich star has picked up a number of stocks from Birla Pacific Medspa, Energy Development Company, and Finotex Chemicals to name a few. Bollywood stars today go way beyond the movie industry. They are successful businessmen too. With varied interest in movie production, stocks, art collection, major sports league or real estate, Bachchan family sure has many tricks up their sleeve. Anupriya Dharma for IndiaProperty.com Image: GQ and Wikimediacommons

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One comment

  1. Nice story to Read…

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