Bandra to Worli – celebs’ fav belt

In the glam world of Mumbai, your stature is determined by your address. If you are a business tycoon and inherit huge money, then Malabar Hill is your where your home is. If you are a top notch lawyer, an eminent executive or a high-ranking banker, then you ought to have a house in Peddar Road. And if you are an A-list Bollywood actor, then Bandra is the exclusive destination for your dream home.

The Goa like lanes and feel, abundance of sea-view apartments and more importantly a central location, has made good old Bandra the most preferred residential destination from Rajesh Khanna to the King Khan. Besides, Bandra is close to Film city in Goregaon and most film studios where these stars travel for shootings. Celebs like Ranbhir Kapoor, Aamir Khan, Salman Khan, Katrina Kaif, Jacqueline Fernandez and Nargis Fakhri own properties in bandra.

There are other stars that chose to stay even closer to Film city by purchasing houses in Andheri. In addition to TV actors who prefer to live in Goregaon and Kandivli, biggies like John Abraham, Pariniti Chopra and Anushka Sharma have apartments in Andheri.

As times passed, stars have shifted their choice to the exotic and the costliest area of Mumbai – Worli.  This was evident when Deepika Padukone bought her first home in worli 5 years ago with a home loan. In 2013, cricketer Yuvraj Singh purchased a pad in a luxurious tower in Worli for Rs. 60 crore while Abhishek Bachchan booked an apartment for Rs. 41 crore and Akshay Kumar for Rs. 28 crore in the famous Skylark Towers.

The real estate market, which is going through a dull phase, was cheered by some big ticket purchases by Hindi movie superstars during the last couple of years. So why Worli?

According to experts in the property markets, a number of upcoming luxury spaces in the Worli area give these celebrities the ease of customizing their living to their taste. Apart from the aesthetically designed interiors, the apartments in Worli offer a breathtaking view of the Arabian Sea.

Another factor is the heavy cash inflow. Hindi cinema is the largest contributor to the revenue of the multi-billion film industry of India. A bollywood film crossing the 100-crore mark is not a novelty anymore and with this, the spending power of celebrities has also shot upwards. Riding on advertisement and event-based earnings, actors are making money at par with industrialists, business houses and top notch bankers.

The Bandra-Worli Sea Link is one more major attraction which is pulling film stars closer to Worli. With the sea link that opened in 2009, celebrities can commute to their workplace sans the traffic as well as enjoy the space and serenity that Worli offers.

Bollywood Celebrities Prefer to Invest in Tax Free Bonds

Legends of Bollywood have been fuelled by the overwhelming star power of celebrities such as; Akshay Kumar, Kareena Kapoor, Aishwarya Rai, Ranbir Kapoor and Amir Khan. Few of us know that Indian bond market is fully or partly fuelled by a generous smattering of investment by these superstars. It is reported that Akshay Kumar with age 48 years have earnings of Rs 128 crore in the year 2015 and due to that he is one of the big and most regular  investor in fixed income instruments as recently he has invested huge amount in IRFCs (Indian Railway Finance Corporation) tax-free bonds. When IRFC issued its bonds with Rs 4,532-crore and it was offerings 25 percent reservation for high net worth individuals and this category was used twice on Day One of the opening of IRFCs bond issue. As Aamir Khan and Akshay Kumar with earnings of Rs 104 crore and Kareena Kapoor Khan with earnings of Rs 53 crore have also also put their money into IRFC bonds, as per the sources.

According to Hiten Shah, Director at SK Capital Advisors, “Now Bollywood celebrities have realized that fixed return instruments are more secure and attractive as they offer them tax-free way to invest more money for long term such as; for 15 to 20 years, whereas; if they will go for fixed deposits, so it will be taxable and are for shorter tenure”. The more he added that most of the celebrities believe that on the time of liquidity requirement, they can use these instruments by selling them into the market and it will help them to generate additional profit through capital appreciation over and above the interest rate if the interest rate falls. These days even young celebrities such as; Ranbir Kapoor (Age 33) have the earnings of Rs 85 crore and currently he is investing in the bonds, former Miss World has invested in tax-free instruments such as;  in the recent issue of NHAI (National Highway Authroity of India).

Apart from that on the other side, for most of the celebrities real estate is the most preferred investment as some of them have bought living pads in Dubai, New York and London. Now they prefer to invest in the stocks, bonds, private equity funds and in mutual funds, as per the reports. However; some of the celebrities such as; Salman Khan and Amitabh Bachchan have invested in the stocks of listed and unlisted companies. These cine stars prefer to make their investments after the consideration of CA and other professional and they also invest through wealth managers and relationship managers of big banks and financial firms.

In the latest offering of IRFC, now even single investment of more than Rs. 10 lakhs will categorized as non-retail. And in this category¸ the investments of 10 year tenure will provide the interest rate of 7.07 percent per annum, whereas; for 15 years and 20 years tenure the interest rates are; 7.28 percent and 7.25 percent respectively. Whereas; FDs for the duration of 5 years in SBI provides 7 percent interest rate, after paying 30 percent tax, which means you will get 5 percent less net income.

Real Estate in Mumbai

Despite stagnancy in the real estate sector, bollywood stars continue to invest in property as these are safer deals. Let us take a look at some extravagant celebrity real estate transactions which have taken place recently.

Actors Akshay Kumar and Aamir Khan purchased flats in Worli and Pali Hill respectively.  Property registration documents reveal that the Khiladi paid Rs 28 crore for a luxury apartment on the 39th floor of the impending Skylark Towers on the Annie Besant Road in Worli. Interestingly, Abhishek Bachchan had bought an apartment in the same project on the 37^th floor a year ago for Rs. 41.14 crore.

While Bachchan’s deal was at the rate of Rs 1.06 lakh per sq ft, Akshay’s works out to Rs 72,000 per sq ft. The five-bedroom apartments having a carpet area of 3,875 sq ft include a family room, dining and living rooms, wet and dry kitchens and 20 feet terraces on all sides. The project is a joint venture between developers Vikas Oberoi and Sudhakar Shetty under their brand Oasis Realty.

In another starry transaction, Aamir Khan acquired his fifth flat for Rs 10.25 crore at the rate of Rs 67,000 a sq ft. The ground floor flat with carpet area of 1,518 sq ft is in Marina Apartments at Pali Hill. According to real estate market sources, Aamir has also been searching for a bungalow property for the past several years in the Bandra-Khar area with a budget of Rs 200 crore.

Aamir_khan

Aamir Khan is one of the most perfect actor of Indian film industry and due to that people love to call him “Mr. Perfectionist”. He was born with a name Mohammed Aamir Hussain Khan on 14 March, 1965 in Mumbai. His father Mr. Tahir Hussain was film producer. In 1986, he got married with Reena Dutta however; in 2002 this couple got separated and after that in 2005 Kiran Rao joins him as life partner. Aamir Khan has three children Azad, Junaid and Ira. He first appeared as child artist in 1973 in movie Yaadon Ki Baaraat. He is also serving the Bolloywood industry as director, television presenter, screenwriter, producer and social worker however his few hits are; Lagaan, Andaaz Apna Apna, Gajhini, Talaash, 3 Idiots, Rang De Basanti, Dhoom 3 and more.

Amair Khan, lives with his wife, Kiran Rao and his children’s at one of the flat of the Bella Vista Apartments, which is located in Bandra. This property spreads over an area of 5000 sq.ft area and have all the necessary amenities and facilities.

Born : 14 March 1965

Spouse : Kiran Rao

You can also reach him on:

Twitter: https://twitter.com/aamir_khan

Facebook: https://www.facebook.com/aamirkhan.com

Bella Vista Apartments Images :

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Aamir_House_interior

Is the Bollywood superstar Aamir Khan tipped to be the next realty baron? One may think so considering that he is on a shopping spree. After his recent acquisitions at a film auction, it is now being reported that Khan has purchased 22 houses in Shahabad, Hardoi district, in Uttar Pradesh. Apparently, the houses that the actor has purchased belonged to Aamir’s uncle Nassir Hussain and another of his uncles.

Ostensibly, the motivation behind the purchase came after Aamir learnt that his cousins had intended to sell the property having moved on in life. It was then that Aamir approached them and asked them to sell it to him as he didn’t want to part with ancestral property.

However, though Aamir has purchased the property, it is learnt that the land has been registered in the names of his brother Faisal and his sisters Farhat and Nikhat. Aamir told newsmen: “This was a sentimental decision. I have hardly spent time in Shahabad but it is my ancestral home. And there is a bond. When I heard that some of my cousins wanted to sell their homes because they have moved on in life, I expressed a desire to buy it back from them. I have said it earlier and I’m repeating myself that someday I will definitely try out farming. This land is ideal for farming and I want to go to Shahabad and give farming a shot.”

He confirmed that besides him, the land has been registered in the names of his brother Faisal and his sisters Farhat and Nikhat. Aamir said, “I have done that because I want my siblings to also have homes right next to mine. I really don’t know when, but the idea is someday I would like all four of us and my mother to spend time together in our ancestral home. Perhaps all my cousins and my nieces and nephews Imran Khan will also join in. It will be the perfect venue for our family reunion.”