Mumbai's Celebrities Cash Out of Prime Real Estate and Endorsements
Bollywood stars and cricketers are making significant moves in the Mumbai real estate market, selling prime properties and endorsing projects for substantial gains. From Jeetendra's Rs 855 crore deal to Abhishek Bachchan's strategic portfolio adjustments, the trend is clear: cashing out while the market is hot.
Real EstateBollywoodCelebrity InvestmentsProperty MarketEndorsementsReal Estate NewsJun 21, 2025
Mumbai has seen a spate of high-value sales by Bollywood actors and cricketers. Earlier, Amitabh Bachchan was in the news for selling a large duplex apartment in a building called ‘Atlantis’, located in the suburb of Andheri, for Rs 83 crore. In March, actor Akshay Kumar made a splash with the sale of two residential units in a gated community called ‘Oberoi Sky City’, in the north-west suburb of Borivali, for Rs 6.6 crore. He followed it up in April with the sale of a 1,200 sq ft commercial office space in ‘One Place Lodha’ for Rs 8 crore.
Abhishek Bachchan, a significant player in the Mumbai real estate market, is in the process of offloading a prime duplex apartment on the 40th and 41st floors of one of the towers in Planet Godrej, in the Mahalaxmi Area of south Mumbai. Purchased from Godrej Properties (GPL) around 12 years ago, Bachchan has been leasing the apartment at high rentals.
However, these sales do not signal the exit of the stars from the real estate market. They are strategic moves to cash out of some properties while the market is favorable, allowing them to rejig their portfolios. “Amitabh Bachchan’s sales are evenly matched by his shopping spree for prime land in Ayodhya,” points out Pankaj Kapoor, founder of the property tracking site LiasesForas. Bachchan has been a steady buyer of land in Ayodhya, perhaps seeing considerable appreciation in the holy city’s new status. About four weeks ago, Bachchan acquired a prime 25,000 sq ft plot from the Abhinandan Lodha group adjacent to its ‘Sarayu’ project, for a reported price of Rs 40 crore. He had earlier acquired a 10,000 sq ft plot in the Saryu project as well. Some of these acquisitions are rumored to be swaps for promoting Lodha projects.
Devang Trivedi, a Navi Mumbai developer, noted that some celebrities have been longtime investors in upcoming farm and resort properties around Mumbai. These investments have appreciated significantly after the new airport and improved connectivity via the Atal Setu were commissioned. Salman Khan, Rakesh Roshan, and Paresh Rawal are among the big investors. For example, plots in the Vasundhra project near Khopoli, off the Mumbai-Pune Expressway, that were purchased at Rs 2-3 lakh an acre two decades ago, are now worth Rs 5 crore an acre.
Commenting on the Rs 855-crore sale of prime estate by actor Jeetendra, Ashok Chhajer, promoter of Arihant Superstructures, noted that Jeetendra is a long-time realtor. He expects much of the proceeds from his Andheri sale to be reinvested in other real estate ventures. “Property prices are peaking now after the Covid rout, and many celebrities feel this is the right time to cash out before prices plateau or begin dipping,” Chhajer said.
Celebrity investments in real estate are not new. Builders and Bollywood stars have had a symbiotic relationship for over two decades, especially in Mumbai. Builders want celebs to promote their projects, and stars are keen on windfall investments and easy endorsement money. The two are a good fit.
Omkar 1973, a project launched over a decade ago, is a prime example. The three towers in Worli, rising to 73 floors with clear views of the Arabian Sea, offered huge, expensive apartments ‘By Invitation Only’. In the first round, Virat Kohli, Anushka Sharma, and Yuvraj Singh booked flats at highly discounted rates. However, the large inventory and prohibitive prices created a cash crunch for the promoters. Today, the project is only partly completed, and Virat Kohli, who had opted for a 7,000 sq ft apartment for Rs 34 crore, canceled his booking in 2018.
Besides soft endorsements, some stars have become brand ambassadors for builders' projects, hoping to convert their brand value into real estate. Years ago, M.S. Dhoni endorsed the Amrapali Group for their projects in the NCR region. Starting around 2009, the star cricketer became the face of the group in ads and promotions. However, with project delays and customers going to court for alleged fraud, Dhoni faced sharp criticism. He ultimately stepped down as the company’s brand ambassador.
Cricketer Rahul Dravid also served as a brand ambassador for a Mumbai developer, Nirmal Lifestyle, a few years ago. Once a well-known brand, the company later faced charges of cheating homebuyers. Promoters Dharmesh Jain and Rajiv Jain were arrested by the Mumbai Police's Economic Offences Wing (EOW) in 2022.
These endorsement forays by celebs, while they provide good returns on discounted purchases and promotion fees, sometimes have a nasty blowback. Some have learned the hard way. Perhaps they should do better due diligence when stepping into these choppy waters.
Frequently Asked Questions
What is the current trend among Bollywood stars and cricketers in the real estate market?
Bollywood stars and cricketers are making significant moves by selling prime properties and endorsing projects for substantial gains, cashing out while the market is favorable.
What is the significance of Jeetendra's recent real estate deal in Andheri?
Jeetendra sold two family-owned pieces of prime real estate in Andheri for Rs 855 crore to NTT Global Data Centers, making it a significant and highly publicized deal in the real estate market.
How are celebrities using their brand value in real estate investments?
Celebrities often serve as brand ambassadors for real estate projects, leveraging their brand value for discounted purchases and promotion fees, though sometimes these endorsements can have negative consequences.
What are some potential risks associated with celebrity endorsements in the real estate sector?
Celebrity endorsements can sometimes lead to negative publicity and legal issues if the projects face delays, fraud allegations, or other problems, as seen with M.S. Dhoni and the Amrapali Group.
How are property prices in Mumbai currently affecting celebrity investments?
Property prices in Mumbai are peaking after the Covid rout, and many celebrities are taking this opportunity to cash out of some properties before prices plateau or begin to dip.
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