Amitabh and Abhishek Bachchan Expand Real Estate Empire with INR 24.95 Crore Investment in Mulund
Bollywood icons Amitabh and Abhishek Bachchan have made a significant real estate investment in Mulund West, Mumbai, acquiring ten upscale apartments for INR 24.95 crore. This move highlights their strategic approach to property investments and their fait
Real EstateBollywoodInvestmentMumbaiCelebrityReal Estate MumbaiNov 04, 2024
The Eternia project is known for its luxury three-bedroom and four-bedroom apartments, each offering high-end living spaces. The total carpet area of the ten units purchased by the Bachchans is 10,216 square feet. Eight of these apartments measure 1,049 square feet each, while the two smaller units are 912 square feet. Each apartment comes with two designated car parking spaces. Abhishek Bachchan secured six of the units for INR 14.77 crore, while Amitabh Bachchan purchased the remaining four.
This latest acquisition is part of a broader trend of celebrity investments in Mumbai's real estate market. Since 2020, the Bachchans have been active players, accounting for over 25% of celebrity property transactions in the Mumbai Metropolitan Region. Their overall property acquisitions have totaled approximately 0.19 million square feet, with a cumulative investment of INR 219 crores.
The year 2024 has been particularly lucrative for the Bachchans in terms of real estate. They have invested over INR 100 crores in various properties, focusing on both residential and commercial spaces. Most of their acquisitions are located in Oshiwara and Magathane (Borivali East). This diversified approach is not just strategic; it positions the family to benefit from the evolving property market in Mumbai, a city renowned for its dynamic real estate sector.
Mumbai's real estate market has seen significant fluctuations, driven by factors such as the demand for luxury housing, urbanization, and changing consumer preferences. Wealthy individuals and families, like the Bachchans, are increasingly turning to high-end residences that offer both comfort and convenience. The acquisition of properties in Mulund West reflects a shift toward areas that provide access to urban amenities while offering a more peaceful living environment.
Amitabh Bachchan recently added to his property portfolio with the purchase of two apartments in a high-end residential project in Mumbai's Borivali suburb. He followed his son's earlier acquisition of six apartments in the same building. Bachchan's units, located on the 57th floor of a tower developed by Incline Realty, were acquired for nearly INR 7 crore, with a stamp duty of INR 40.72 lakh. These deals were finalized on May 29, as per documents from Zapkey.com.
Amitabh Bachchan's real estate strategy extends beyond Mumbai. He recently purchased a 10,000 sq. ft. plot in Alibaug from The House of Abhinandan Lodha (HoABL) for over INR 10 crore, with plans to build a luxury villa overlooking the scenic beaches. Earlier this year, in January, he acquired another 10,000 sq. ft. plot in The Sarayu, a prestigious 7-star mixed-use development in Ayodhya, for INR 14.5 crore. These investments highlight Bachchan's astute ability to identify prime real estate opportunities beyond Mumbai.
In addition to residential properties, Amitabh Bachchan has shown a keen interest in commercial real estate. In January 2024, he leased four commercial units in Mumbai's Oshiwara area to Warner Music India Limited. The lease, starting in March 2024, will generate an annual rent of INR 2.07 crore, amounting to over INR 11 crore over the five-year term. Bachchan had initially acquired these units in August 2023 for INR 29 crore, demonstrating his strategic focus on income-generating properties.
Frequently Asked Questions
What is the value of the real estate investment made by Amitabh and Abhishek Bachchan in Mulund West?
Amitabh and Abhishek Bachchan have invested INR 24.95 crore in ten residential apartments in Mulund West, Mumbai.
What project did the Bachchans purchase their properties in Mulund West from?
The Bachchans acquired their properties in the Eternia project, developed by Oberoi Realty in Mulund West, Mumbai.
How much total carpet area do the ten apartments purchased by the Bachchans cover?
The ten apartments purchased by the Bachchans cover a total carpet area of 10,216 square feet.
What other notable real estate investments have the Bachchans made recently?
Recently, Amitabh Bachchan purchased a 10,000 sq. ft. plot in Alibaug and another 10,000 sq. ft. plot in The Sarayu, Ayodhya. He also leased commercial units in Oshiwara to Warner Music India Limited.
What is the Bachchans' strategy in diversifying their real estate portfolio?
The Bachchans are diversifying their real estate portfolio by investing in both residential and commercial spaces, focusing on high-end projects in strategic locations like Oshiwara, Magathane, and beyond Mumbai.
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