Bollywood Dynasties: Amitabh and Abhishek Bachchan’s INR 24.95 Crore Real Estate Investment in Mulund
Amitabh and Abhishek Bachchan have made a significant real estate investment in Mulund West, Mumbai, acquiring properties worth INR 24.95 crore. This purchase, confirmed by registration documents, highlights the family's continued interest in high-end res
Real EstateCelebrity InvestmentsMumbai Real EstateBachchan FamilyLuxury ApartmentsReal EstateNov 04, 2024
The Bachchans have purchased a total of ten apartments in Eternia, with a combined carpet area of 10,216 square feet. Each apartment is equipped with two designated car parking spaces. Eight of these units measure 1,049 square feet each, while the remaining two units measure 912 square feet each. Abhishek Bachchan secured six of these units for INR 14.77 crore, while Amitabh Bachchan acquired the remaining four.
This latest acquisition is part of a broader trend of celebrity investments in Mumbai's real estate market. Since 2020, the Bachchan family has been a notable player, accounting for over 25% of celebrity transactions in the Mumbai Metropolitan Region. Their overall property acquisitions have reached approximately 0.19 million square feet, amounting to a staggering investment of INR 219 crores.
The year 2024 has been particularly strong for the Bachchans in terms of real estate investments. Reports indicate they have invested over INR 100 crores in various properties throughout the year. Their portfolio includes a mix of residential and commercial spaces, primarily located in Oshiwara and Magathane (Borivali East). This diversification is not only strategic but also positions the family to capitalize on the growth potential in Mumbai's evolving property market.
Mumbai's real estate sector has seen fluctuating trends, driven by factors such as demand for luxury housing, urbanization, and changing consumer preferences. Wealthy individuals and families, like the Bachchans, are increasingly looking toward high-end residences that offer comfort and convenience. The acquisition of properties in locations such as Mulund West signifies a shift toward areas that provide access to both urban amenities and a more tranquil living environment.
Recently, Amitabh Bachchan purchased two apartments in a high-end residential project in Mumbai's Borivali suburb. This followed his son Abhishek Bachchan's acquisition of six apartments in the same building. Amitabh Bachchan’s apartments are on the 57th floor of a tower developed by Incline Realty, a subsidiary of Oberoi Realty. He paid nearly INR 7 crore for the apartments, and the stamp duty for registration was INR 40.72 lakh. These deals took place on May 29, as documented by Zapkey.com.
Amitabh Bachchan's latest acquisition in Borivali is part of a larger investment strategy that includes high-profile properties across different locations. Recently, he bought 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 distinguished 7-star mixed-use development in Ayodhya, for INR 14.5 crore. These investments highlight Bachchan's keen eye for prime real estate opportunities beyond Mumbai.
In addition to residential properties, Amitabh Bachchan has shown a strong interest in commercial real estate. In January 2024, he leased four commercial units in Mumbai's Oshiwara area to Warner Music India Limited. This 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, underlining his strategic investments in income-generating properties.
Frequently Asked Questions
How much did Amitabh and Abhishek Bachchan invest in Mulund West?
Amitabh and Abhishek Bachchan invested INR 24.95 crore in residential properties in Mulund West, Mumbai.
What is the name of the residential project where the Bachchans bought properties in Mulund West?
The Bachchans bought properties in Oberoi Realty's upscale project, Eternia, in Mulund West, Mumbai.
How many apartments did the Bachchans acquire in Eternia?
The Bachchans acquired a total of ten apartments in Eternia, with a combined carpet area of 10,216 square feet.
What other areas in Mumbai have the Bachchan family invested in?
The Bachchan family has invested in properties in areas such as Oshiwara, Magathane (Borivali East), and Borivali.
What is the total value of the Bachchan family's real estate investments in Mumbai?
The Bachchan family's overall property acquisitions in Mumbai amount to approximately 0.19 million square feet, with a total investment of INR 219 crores.
Related News Articles
Mumbai's Red Hot Office Market: Red Fox IT Infra LLP Buys 22 Units for ₹267.5 Crore
Red Fox IT Infra LLP, a subsidiary of Redbrick Offices, has purchased 22 office spaces at Marol, Andheri for a whopping Rs 267.5 Crore, making it one of the largest office deals in Mumbai this year.
Birla Estates Redefines Luxury Living with Silas at Birla Niyaara
Birla Estates Pvt. Ltd. announces record sales of its signature tower Silas at Birla Niyaara
Real Estate Firms Acquire 6,000 Acres of Land for Rs 90,000 Crore to Develop Projects
Real estate companies have made significant land acquisitions over the past few years, buying nearly 6,000 acres of land for Rs 90,000 crore to develop residential and commercial projects. This move is expected to boost the urban real estate market.
Three DSK Partners Depart to Join C&S Partners Founders
In a significant move, three prominent partners from DSK Legal have left the firm to reunite with the founders of C&S Partners. This strategic realignment in the legal community is expected to bolster the expertise and client base of both firms. The move highlights the dynamic nature of the legal industry, where experienced professionals frequently realign to meet evolving market demands and client needs.
FIR Order Against Madhabi Puri Buch in Cals Refineries Case: A Closer Look
The FIR order against Madhabi Puri Buch, the former Chief Financial Officer of Cals Refineries, sheds light on alleged financial irregularities and their implications. This article delves into the details of the case, the background of Cals Refineries, an
Brigade Groups Acquires 4.4 Acre Land in Bengaluru, Aims for ₹950 Crore Revenue from Housing Project
Brigade Groups, a leading real estate developer in South India, has acquired a 4.4-acre land plot in Bengaluru. The company plans to develop a high-end residential project, targeting revenue of ₹950 crore from the venture.