Bollywood celebrities are making waves in the real estate market in 2023, transcending from residential to commercial properties. Icons like Amitabh Bachchan, Ajay Devgn, Sara Ali Khan, Kartik Aaryan, Manoj Bajpayee, and others have invested in office spaces in the 28-storey Signature Tower in Andheri. These high-profile acquisitions, marked by significant investments, reflect a growing trend among celebrities to diversify their real estate portfolios. The commercial real estate surge is driven by annual rental yields that outperform residential properties, making it an attractive and lucrative investment option for Bollywood stars.
Bollywood celebrities have impressed audiences with their stellar performances, incredible style and moreover- their real estate acquisitions. Whether propelled by a passion for luxury living or keen financial investments, these acquisitions are nothing short of spectacular. 2023 has seen big names in Bollywood go beyond acquiring residential spaces and venture into commercial properties. Here are some captivating instances of Bollywood stars delving into the commercial real estate market.
A rising commercial hub on Veera Desai Road in Oshiwara, Andheri has witnessed stars like Amitabh Bachchan, Ajay Devgn, Manoj Bajpayee, Sara Ali Khan and Kartik Aaryan acquiring office spaces in the 28-storey Signature Tower. Signature is located next to 21-year Lotus Grandeur, which has offices of several film and television production houses, including producer Sajid Nadiadwala, French production company Banijay, which produces shows like Bigg Boss with Indian subsidiaries, Reliance Entertainment, and producer-director Amit Sharma, who directed the 2018 hit Badhaai Ho.
Amitabh Bachchan purchased four units on the 21st floor, covering 7,620 sq ft, including 12 car parking spaces for Rs 28.73 crore. Sara Ali Khan and Kartik Aaryan secured individual units on the fourth floor, with Sara's transaction valued at Rs 9 crore and Kartik's at Rs 10.9 crore. Manoj Bajpayee, along with his wife Shabana Raza Bajpayee, acquired four office units in the same building, totaling 7,620 sq ft. This deal also includes exclusive access to 12 parking spaces.
Ajay Devgn invested Rs 45.09 crore in five office units in the Signature Building, with three units on the 16th floor valued at Rs 30.35 crore with a built-up area of 8,405 square feet. The remaining two on the 17th floor spread across 4,893 square feet of built-up area and were acquired for Rs 14.74 crore. Kajol added a single office unit on the eighth floor for Rs 7.64 crore. They paid a stamp duty of Rs 88.44 lakh for these units.
Bollywood actor Alia Bhatt’s production house– Eternal Sunshine Production Pvt Ltd secured a commercial property in Aerial View Cooperative Housing Society on Nargis Dutt Road in Bandra for Rs 37.80 crore in April. The 6th-floor apartment comes with two car parking spaces, and the transaction was completed with a stamp duty payment of Rs 2.26 crore.
Renowned playback singer Sonu Nigam joined the trend by purchasing two office spaces in Andheri West for Rs 11.37 crore. These properties, part of a redevelopment project, cover 5,547 sq ft and were filed on March 15, 2023.
Research conducted by MoneyControl highlights the driving force behind this commercial property trend—annual rental yields that surpass those of residential real estate. With rental yields ranging from 6% to 9%, commercial properties are in high demand, mainly fuelled by economic growth and a thriving start-up culture. The allure of higher rental returns and longer lease durations compared to residential properties makes commercial real estate a preferred investment choice for Bollywood celebrities in 2023.
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