Bollywood actor Ranveer Singh has reportedly sold two residential apartments in Oberoi Realty’s Goregaon project, Oberoi Exquisite, for an alleged sum of Rs 15 crores. The properties, located on the 43rd floor, have a combined area of 2,600 square feet and were sold along with six parking slots. Singh is said to have purchased these apartments in 2014 with his mother. Bollywood actors, including Singh, often make headlines for their real estate purchases, reflecting the industry's trend of investing in real estate as a substantial part of their wealth management strategy.
Popular Bollywood actor Ranveer Singh recently sold two residential apartments in Oberoi Realty’s Goregaon project Oberoi Exquisite for an alleged sum of Rs 15 crores. The properties are situated on the 43rd floor of one of the towers in the complex and have a combined area of 2,600 square feet. The transactions garnered a stamp duty of Rs 91.50 lacs are recorded by Indextap.com. Both apartments were sold along with six parking slots that independently cost a little over Rs 7 crores. According to press reports, the Singham actor is said to have purchased these apartments in 2014 along with his mother.
Bollywood actors are often in the limelight for their real estate purchases, with several big names in the industry choosing to park a substantial portion of their wealth in real estate assets. From veteran actors such as Amitabh Bachchan and Dharmendra to young Gen Z actors like Suhana Khan and most recently Ananya Pandey making big ticket real estate purchases, the trend of investing in real estate is well understood in this profession.
Late last year, the actor purchased a ultra-luxurious quadruplex apartment in Sagar Resham, a premium building nestled in the same stretch as Galaxy Towers which is home to actor Salman Khan, and Sharukh Khan’s bungalow Mannant. The deal, for a whopping Rs 119 crores, made headlines as one of the priciest real estate deals to have taken place in the country that year.
Ranveer Singh and his wife Deepika Padukone are some of the highest paid actors in Bollywood today. They live together in Mumbai City. Like many of their counterparts living in the city, they too have favoured real estate as an investment class.
Real estate has always acted as a sound counterweight to paper assets, making it a sound choice for anyone wanting to hold a well-diversified financial portfolio. The recent uptick in property deals is reflective of a sentiment that property is on the cusp of a price rise cycle. Therefore, astute investors appear to be jumping of the property boom bandwagon with gusto.
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