Sunil Shetty Buys Rs 8 Crore Property in Khar West: The Celeb Real Estate Trend in Mumbai
Bollywood star Sunil Shetty and his son have made a significant investment by purchasing a property worth Rs 8.01 crore in Khar West, Mumbai. This acquisition adds to the growing trend of celebrities investing in prime real estate in the city. Discover wh
Celebrity PropertyReal EstateMumbaiHighprofile BuyersBandraReal Estate MumbaiOct 28, 2024
Bandra, a prime location in Mumbai, continues to attract high-profile buyers due to its strategic proximity to key commercial areas such as the Bandra-Kurla Complex (BKC), Worli, and Andheri. The area’s upscale amenities and connectivity make it a top choice for celebrities seeking both luxury and convenience.
Ranveer Singh, Deepika Padukone, KL Rahul, Prithviraj Sukumaran, Tripti Dimri, and Athiya Shetty are among the stars who have recently invested in Bandra, further enhancing its reputation as a luxury property hotspot.
Kanika Gupta Shori, founder and COO of Square Yards, explained, “Mumbai's southern and western suburbs are the hotspots for celebrity real estate transactions, with Bandra commanding the highest share in both deal volume and value.” She added, “Bandra’s appeal is rooted in its historical association with Bollywood and sports personalities, fostering a community rich in familiarity and exclusivity. Moreover, its proximity to the film industry, production houses, and networking venues offers distinct advantages for those in entertainment. The area’s upscale residences, modern amenities, and connectivity to both the airport and business hubs make it ideal for high-profile individuals. Besides lifestyle, properties in these localities provide a solid investment proposition, offering value through capital appreciation and rental returns, and serving as a hedge against market fluctuations.”
Bollywood actors have shown a growing interest in real estate investments in recent years. Data from Square Yards reveals that Amitabh Bachchan and his son Abhishek Bachchan have made significant investments, purchasing nearly Rs 194 crore worth of residential and commercial spaces between 2020 and September 2024. Their acquisitions, covering 180,000 sq ft, account for a third of all celebrity property transactions recorded during this period, which is more than double the combined purchases of the next four top celebrity buyers.
Actor Janhvi Kapoor also followed the trend by spending approximately Rs 170 crore on a more modest 18,550 sq ft of property. Other celebrity couples, like Ajay Devgn and Kajol, and Ranveer Singh and Deepika Padukone, have also invested more than Rs 100 crore in prime locations across Mumbai.
High-profile property transactions by Bollywood stars have dominated Mumbai’s real estate market in recent years
- Most celebrity purchases fall within the price bracket of Rs 0.5 crore to Rs 10 crore.
- Some transactions have even crossed Rs 60 crore.
- Notable figures, such as Shahrukh Khan, Shilpa Shetty, Akshay Kumar, and Aishwarya Rai, have also been active in the property market.
Real estate consultancy Knight Frank’s Prime Global Cities Index Q1 2024 report supports this trend, revealing that Mumbai saw the third-highest year-on-year growth in prime residential property prices globally. The city climbed three spots from Q1 2023, with a 10% rise in property prices between 2023 and 2024, driven primarily by the sale of high-value properties.
Frequently Asked Questions
Why do celebrities prefer to invest in Bandra?
Celebrities prefer Bandra due to its proximity to key commercial areas like the Bandra-Kurla Complex (BKC), Worli, and Andheri, as well as its upscale amenities and connectivity. It offers a blend of luxury and convenience, making it ideal for high-profile individuals.
How much did Sunil Shetty and his son pay for the property in Khar West?
Sunil Shetty and his son paid Rs 8.01 crore for the property in Khar West, Mumbai. The property spans 111.52 sq m (1,200.39 sq ft).
What are the major reasons for the rise in property prices in Mumbai?
The rise in property prices in Mumbai is driven by high-value property sales, particularly by celebrities, and the city’s strategic location and amenities. It has seen the third-highest year-on-year growth in prime residential property prices globally, according to Knight Frank’s Prime Global Cities Index Q1 2024.
Which celebrities have recently invested in Bandra?
Recent celebrity investors in Bandra include Ranveer Singh, Deepika Padukone, KL Rahul, Prithviraj Sukumaran, Tripti Dimri, and Athiya Shetty.
How much has Amitabh Bachchan and Abhishek Bachchan invested in real estate between 2020 and 2024?
Amitabh Bachchan and Abhishek Bachchan have invested nearly Rs 194 crore in residential and commercial spaces between 2020 and 2024, covering 180,000 sq ft of property.
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