Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Actor John Abraham has acquired a century-old bungalow in Mumbai's Bandra for approximately INR 84 crore, adding another landmark property to the city's premium residential market. The heritage home, located in one of Bandra's most sought-after neighbourhoods, will be retained in its existing form, with no redevelopment planned. The transaction reflects the growing appeal of standalone heritage residences among high-net-worth buyers, even as redevelopment continues to dominate Mumbai's residential landscape.
Actor John Abraham has purchased a nearly 100-year-old bungalow in Mumbai's Bandra for around INR 84 crore, according to property registration records and media reports. The acquisition stands out not only for its value but also because the actor has reportedly decided against redeveloping the property, choosing instead to preserve the existing structure.
Located in one of Mumbai's most established residential neighbourhoods, the bungalow is considered a heritage-era property that reflects Bandra's early architectural character. Unlike many older homes in the suburb that have been replaced by high-rise residential towers in recent years, the newly acquired property is expected to remain intact.
Reports indicate that John Abraham has no plans to redevelop the site despite its redevelopment potential. The decision comes at a time when several standalone bungalows across Bandra, Khar and adjoining western suburbs have made way for luxury apartment projects due to rising land values and increasing demand for premium housing.
Bandra has emerged as one of Mumbai's most expensive residential micro-markets, driven by limited land availability, strong buyer demand and its popularity among business leaders, professionals and film personalities. Standalone bungalows have become increasingly scarce, making transactions involving such properties relatively uncommon compared with apartment sales.
Real estate consultants note that heritage homes in established neighbourhoods are attracting buyers who value architectural character, privacy and long-term ownership over redevelopment gains. While redevelopment often offers significantly higher financial returns, some purchasers are opting to preserve original structures that contribute to the area's historical identity.
The acquisition also reflects a broader trend in Mumbai's luxury housing market, where high-value transactions involving trophy homes, sea-facing residences and independent bungalows have remained active despite elevated property prices. Premium residential assets continue to attract affluent buyers seeking exclusive properties in established urban locations.
Property experts believe such transactions reinforce the enduring value of Bandra's limited stock of heritage residences. As redevelopment gradually transforms much of Mumbai's older housing inventory, preserved bungalows are becoming increasingly rare assets with both architectural and investment significance.
John Abraham's decision to retain the century-old bungalow in its present form distinguishes the transaction from many recent acquisitions in the city's prime neighbourhoods, where redevelopment typically follows ownership changes. The move underscores a growing appreciation for preserving select heritage properties within Mumbai's evolving urban landscape.
Advertisement
Facebook
Whatsapp
