Bollywood Bigwigs Invest in Luxury Mumbai Properties
Aamir Khan and Amitabh Bachchan are the latest Bollywood celebrities to join the luxury property bandwagon in Mumbai, following a trend of high-end real estate deals in the city.
Luxury Real EstateMumbai Property MarketBollywood CelebritiesAamir KhanAmitabh BachchanReal EstateJun 30, 2024
Aamir Khan, known for his perfectionism in films, has recently acquired a residential property in Bandra suburbs, adding to his existing portfolio. According to property registration documents, the actor paid Rs. 9.75 crore for the 1,027 square-feet property, located in the upscale Bella Vista Apartments in Pali Hills.
Pali Hills is one of Mumbai's most prestigious and sought-after residential areas, home to several celebrities, industrialists, and expatriates. Interestingly, Aamir Khan already owns several properties in Bella Vista Apartments as well as Marina Apartments in Pali Hills.
Another Bollywood legend, Amitabh Bachchan, has also invested in Mumbai real estate, recently purchasing two apartments in Borivali suburb for Rs 7 crore. The two apartments are located on the 57th floor of the same tower, where his son Abhishek's six flats are located.
Last year, Amitabh Bachchan purchased four apartments in Andheri's Signature Building for Rs 29 crores. Other celebrities, such as Alia Bhatt and John Abraham, also invested in luxury properties in Mumbai, with Alia's production house purchasing a 2,497 sq.ft. apartment in Bandra for Rs 38 crore and John purchasing a 5,000 sq.ft. bungalow in Khar for Rs 70 crore.
The luxury real estate market in India has experienced a remarkable increase in sales value, with the total deal value of luxury homes surging to Rs 4,319 crore in 2023, a significant increase of approximately 51% over the value of Rs 2,859 crore worth of luxury homes recorded in 2022. This surge in sales value was accompanied by a rise in the number of transactions, with at least 45 luxury homes sold in 2023, or 55% more than the 29 homes sold in the previous year.
The data suggests that the demand for luxury properties in Mumbai is on the rise, with many high-net-worth individuals and celebrities investing in these properties. With its prime location and amenities, Mumbai is likely to continue to attract investors and celebrities looking for luxury real estate options.
Information
SquareYards.com is a leading real estate platform that provides comprehensive property services to buyers, sellers, and investors.
Zapkey.com is a real estate data analytics firm that provides insights and data on the Indian property market.
JLL India is a leading international property consultancy firm that provides research and advisory services to the real estate industry.
Frequently Asked Questions
Which Bollywood celebrities have invested in luxury properties in Mumbai?
Aamir Khan, Amitabh Bachchan, Alia Bhatt, and John Abraham are some of the Bollywood celebrities who have invested in luxury properties in Mumbai.
What is the total deal value of luxury homes sold in 2023?
The total deal value of luxury homes sold in 2023 was Rs 4,319 crore, a significant increase of approximately 51% over the value of Rs 2,859 crore worth of luxury homes recorded in 2022.
What is the percentage increase in the sales value of luxury homes in 2023 compared to 2022?
The sales value of luxury homes surged 55% in 2023 compared to 2022.
How many luxury homes were sold in 2023?
At least 45 luxury homes were sold in 2023, or 55% more than the 29 homes sold in the previous year.
What is the average price range of luxury homes in Mumbai?
The average price range of luxury homes in Mumbai is around Rs 50 crore and above.
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