Bollywood Stars Diversify Investments: Moving into Commercial Real Estate
Bollywood celebrities are known for their luxurious lifestyles and expensive residential properties. However, they are now venturing into the commercial real estate market, particularly office spaces, to diversify their investments and secure steady rental yields. This trend is evident in Mumbai, where stars like Kartik Aaryan, Saif Ali Khan, Hrithik Roshan, and Kajol have made significant commercial property transactions.
From 2024 to 2025, nearly 60 commercial property transactions, including outright purchases and leases, by Bollywood personalities have been registered, according to data compiled by online real estate marketplace Square Yards and shared with Mint. Unlike the ₹100-crore homes that celebrities typically purchase, their office investments are smaller spaces, often located in standalone buildings in suburban areas of the financial capital.
After the Covid-19 pandemic, several actors and celebrity couples, including Amitabh Bachchan and son Abhishek, Janhvi Kapoor, Ranveer Singh, and Deepika Padukone, splurged on multi-crore, sea-facing homes in prime locations for their own use and investments. However, the focus has now shifted to commercial real estate, including office and retail spaces, which offer higher rental yields and long-term gains.
Office properties in cities such as Mumbai typically assure a rental yield of 6-9% annually, along with periodic rent escalations, compared to 2-3% in residential properties. The celebrities’ office investments mirror the growth in the segment. Around 60 million sq ft of gross office leasing was recorded between January and September 2025, according to property advisory CBRE India, and is expected to surpass 80 million sq ft this year. In 2024, it was around 79 million sq ft, signaling a complete recovery from the pandemic-led slowdown in the office sector.
The Roshans, including actor Hrithik Roshan, his parents Rakesh and Pramila, and their company HRX Digitech LLP, have purchased multiple office spaces in 2024 and 2025. They purchased three office units in Mumbai's Chandivali area for ₹31 crore in July, according to property registration documents accessed by Propstack. Last year, the family entity bought five office units in the same building named Boomerang for ₹37.75 crore.
Kartik Aaryan has been one of the prolific commercial real estate investors in recent months. In November, his parents, Mala Tiwari and Manish Tiwari, bought a 1,228 sq ft office in suburban Vile Parle for ₹10.83 crore, according to property registration documents accessed by Zapkey. Earlier, in September, Aaryan, along with his parents, purchased an office space in Andheri West, Mumbai, for ₹13 crore, according to Square Yards.
Kajol rented out a retail space in Mumbai’s Goregaon area to HDFC Bank for a total rent of ₹8.6 crore over a nine-year period. According to Square Yards registration data, she had purchased the property earlier this year for ₹28.78 crore. Saif Ali Khan also invested in two office units in Andheri.
To be sure, Bollywood A-listers have selectively bought commercial properties in the past, but the momentum has spiked in the past couple of years. “We are observing an increase in commercial real estate transactions by Bollywood celebrities largely because high-net-worth individuals view commercial properties as a way to diversify their investment portfolios beyond residential holdings and traditional financial assets,” said Deepak Khandelwal, principal partner and chief sales officer, Square Yards.
Many celebrities have chosen to acquire commercial space in key Mumbai micro-markets, including Andheri, Santacruz, and Goregaon, to generate a steady income stream, as well as for potential tax and depreciation benefits that differ from those on residential investments, Khandelwal said. Indian tax laws allow 10% depreciation on commercial assets, compared to 5% on residential properties, which can be deducted from the property's value, reducing taxable income.
While most transactions are investments, film production houses have also bought or leased commercial properties for their own use, according to property consultants. Dharma Production Pvt Ltd leased around 5500 sq ft in the Ambivali area this year. Following the pandemic, the housing market, particularly the luxury residential segment, recovered faster. The office market picked up later, and deals, too, have since gained momentum, said Akash Hariani, joint managing director at Motilal Oswal Private Wealth.
“Given that their profession doesn't have linear growth, commercial real estate creates that security and regular cash flows through steady rental income. It's also a tangible asset holding, and being celebrities, they can also get a better deal or discount,” Hariani added.
