Bollywood's Luxury Property Boom: Aamir Khan and Amitabh Bachchan Invest Big in Mumbai
Despite the pandemic, Mumbai's luxury real estate market continues to attract attention from Bollywood celebrities, with Aamir Khan and Amitabh Bachchan making significant investments.
Mumbai Real EstateLuxury PropertiesBollywoodAamir KhanAmitabh BachchanReal Estate MumbaiJun 30, 2024
According to property registration documents, Khan purchased the 1,027 square-feet property in Bella Vista Apartments for Rs. 9.75 crore. The apartment is located in the affluent Pali Hills area, a sought-after residential locality that is home to several celebrities, industrialists, and expatriates. Interestingly, Khan already owns several properties in the same building and in Marina Apartments, also in Pali Hills.
Amitabh Bachchan has also made a significant investment in Mumbai's real estate market, purchasing two apartments in the 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, Bachchan purchased four apartments in Andheri's Signature Building for Rs 29 crores.
In the last one and a half years, the sales of luxury properties have boomed in India. According to a report by JLL India, the luxury real estate market in India experienced a remarkable increase in the sales value of luxury homes priced at Rs 50 crore and above, surging 55% in 2023. The total deal value of luxury homes surged 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.
The 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. Of the 45 transactions, 58% were apartments and the rest 42% were bungalows.
Information
SquareYards.com is a leading real estate platform that provides comprehensive property registration documents and analysis. Zapkey.com is a property research firm that provides detailed information on property transactions. JLL India is a leading real estate consultancy firm that provides market research and analysis.
Eternal Sunshine Production is a production house owned by Alia Bhatt, which has invested in a luxury property in Bandra.
Frequently Asked Questions
Which Bollywood stars have invested in luxury properties in Mumbai?
Aamir Khan, Amitabh Bachchan, Hrithik Roshan, Ranveer Singh, and Alia Bhatt have invested in luxury properties in Mumbai.
How much did Aamir Khan pay for his luxury property in Bandra?
Aamir Khan paid Rs. 9.75 crore for his 1,027 square-feet property in Bella Vista Apartments.
Where did Amitabh Bachchan purchase his luxury properties in Mumbai?
Amitabh Bachchan purchased two apartments in Borivali and four apartments in Andheri's Signature Building.
What is the growth rate of luxury real estate sales in India?
According to a report by JLL India, the sales value of luxury homes surged 55% in 2023.
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.
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