Ranbhir Kapoor beats Jindals in property deal

Bollywood heartthrob Ranbhir Kapoor has made the largest recorded transaction per square feet by paying a whopping Rs. 35 crore for a property in Mumbai. The apartment is located in Bandra, close to Krishna Raj, his parental home, and is possibly the highest recorded transaction in the suburbs with Rs 1.42 lakh per square foot.

The sprawling apartment is on the seventh floor of the 12-storey Vastu Pali Hill, with two parking slots, reports the Times of India.

According to market experts, film celebrities believe in property investment even if the markets are stagnated. The film industry always makes full payments by cheques only.

Earlier, biggies like Akshay Kumar, Aamir Khan, and Abhishek Bachchan have all bought luxury apartments in various projects in the city. But Ranbhir Kapoor has topped the Bollywood A-listers and even surpassed the Jindal family which purchased a 10,000 sq ft duplex for Rs. 1.60 per square foot in the impending Lodha Towers on Altamount Road.

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.

Bollywood stars owning properties abroad

Our b-town folks are the most extravagant personalities in the country having assorted ways of spending their wealth. While some celebs like to buy luxurious cars, others like to indulge in holidaying at exotic destinations; but investing in real estate has and will always remain the favourite way of parking funds.

In this post, we feature some of the Bollywood celebrities who have bought properties at foreign locations.

Beginning with the Bachchans, the senior legend has five houses in India. But did you know that he owns a pad in the city of Paris? This house in the French capital was a gift to Amitabh Bachchan from His wife Jaya on his birthday. Like father, like son; junior Bachchan, Abhishek has acquired a property in Dubai’s Jumeirah’s Golf Estates, which spreads over 10, 600 square feet at a price of nearly 15 to 35 million UAE Dirhams!

Next comes King Khan who owns several luxury properties in India and abroad. Shahrukh Khan possesses a bungalow, Signature Villa, worth 17.84 crore in Dubai. The villa, measuring 8500×14000 square feet has a swimming pool and a private beach. The real estate mogul of Bollywood also owns an apartment in central London’s posh park lane worth £20 million.

Khiladi Kumar, Akshay has a special place for Canada in his heart. If reports are to be believed, this Canada lover has bought himself an entire hill in Toronto! The actor possesses several apartments in Mumbai along with a posh bungalow. Adding to the majestic property list is the bungalow he owns on a Mauritian beach.

The Royal couple of Bollywood, Saif Ali Khan and Kareena Kapoor Khan are fond of touring exotic places all over the world. The Chhote Nawab already has close to ten plush apartments at various locations. Because of their love for glamorous vacation requirements, the couple has bought a holiday home in Gstaad, Switzerland.

The most stylish superstar of B-town, Hrithik Roshan earns majorly through his family production house, Filmkraft. The younger Roshan has a wealth of nearly Rs. 1500 crore and enthusiastically invests in lifestyle and fitness brand, HRX.

Mr.  & Mrs. Raj Kundra, the owner of an IPL team have a 7 bedroom bungalow called the Raj Mahal in Weybridge, Surrey and property in Mayfair as well as in Oxford Street of London. Besides, Raj has also gifted Shilpa Shetty a posh apartment on the 19^th floor of an aristocratic tower in Dubai.

The heartthrob of every girl in India, John Abraham may not be very lucky with his films but surely has a good hand at business. The model turned actor not only owns a 60,000 square feet property in Mumbai but also has a beautiful house in Bell Air, Los Angeles, USA. The house is situated next to the homes of Jennifer Anniston and Angelina Jolie.

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.

Priyanka_Chopra

It seems that these days Bollywood actress Priyanka Chopra is looking for the plush property in Mumbai from last three years, but now her search is about to end as recently she found her dream home. This actress has apparently purchased a huge luxury bungalow in the area of Versova, which has beach front view and has 15 exotic bedrooms after whopping Rs. 100 crore, as per the report of DNA. Rs. 100 crore is huge amount and has raised the eyebrows of many people in film industry because only fewer people can afford this much huge amount in industry. And on the other side she owns whole floor in Andheri building where cops busted a sex racket at from Charisma Spa and rescued three women on Novemeber 7, 2014, earlier she had leased it out to the Manik Soni, who is spa owner.

Her property was used to run sex racket :

When police raided in spa centre in Versova earlier this month to expose flesh trade racket, so property papers revealed that the premises actually belong from actress Priyanka Chopra and she has given out the property on rent. According to sources, “This property belongs from Priyanka Chopra and clinic of her mother is situated just next to this place, however; the entire floor which is of 3,000 sq ft area, belongs from actress. In the beginning of July 2015, the police had raided the place and they got to know that the place was used for sex trade. Police was arrested the manager Dinesh Chandrakant with three adult females who were rescued, however; Manik Soni is still absconding. On November 7, 2014 Versova police received a tip from one of customer Charisma Spa and Beauty Centre which is located in Vastu Precinct building at Shastri Nagar is involved in the flesh trade and after that on the basis of information police sent a team to verify the information.

All the three women have been sent to a rehabilitation centre while confirming the report that actress owns the property of spa centre. Case investigating officer stated that “currently we are searching for Manik Soni who is still abscond, once we will arrest him we will get the details about the agreement between him and the actress”. According to cops her mother Madhu had visited the premises with her son Siddharth to attend the launch ceremony of spa centre, but according to other sources Priyanka has many other commitments at hand and due to that she had rented this property which becomes another big trouble for her. Spa owner Manik Soni is on the run, and he was regular at many Bollywood parties as well as he know many television and film personalities, as per police. Investigation is in the process and once the accused is arrested police will verify the agreement and then according to that police will take the action. However; Priyanka Chopra was unavailable for any comment.

She buys luxury bungalow in Rs. 100 Crore :

This luxurious bungalow known as Dariya Mahal and it is among the seven most lavish properties located at the peaceful street in Versova. However; all the properties on the street are representing the vintage architecture. According to reports, in 1930, British architect, Claude Batley was built the bungalow for wealthy textile merchant who was famous with the name Maneklala Chunilal Chinai, but after his death the bungalow was transferred his grandson Harish Chinai and currently he is the owner of property.

Till now Bollywood producers where using the Dariya Mahal for shooting purposes, but recently Priyanka Chopra finalized the deal with Harish Chinai, current owner of bungalow. According to reports, Priyanka Chopra fallen in love with the vintage architecture and antiquity of bungalow and it was in her wishlist. But owners want to retain that retain the property and due to that actress have to negotiate well.  According to reports, Priyanka has eye on one more bungalow and ie. Mayur Mahal in Juhu. For Mayur Mahal, Saif Ali Khan and Akshay Kumar have also expressed their interest in deal, but deal is still in process. However; currently Priyanka is living with her mother in a posh flat of Lokhandwala, ever since her father passed away and now they are planning to move in to her new Rs. 100 crore bungalow.

Priyanka’s Dariya Mahal :

Dariya Mahal_front view

Priyanks’s Dariya-Mahal

Neighbours_Hrithik_Akshay

According to reports, Hrithik Roshan is planning to shift in his new bachelor’s pad, which is located in a Juhu building where Akshay Kumar is living. As per sources, after divorce now finally Hrithik Roshan decided to move out from his parent’s house to shift into a third floor flat which is at Prime Beach in Juhu.

Prime_beach_Juhu

However; in January 2015, he did small Puja, but after that he didn’t get the chance to shift there as he was busy in the shooting of movie “Mohenjo Daro” in Gujarat. Last week Hrithik moved there and currently he is staying alone whereas; it is the same building where Akshay Kumar is living along with his wife Twinkle Khanna and two children.

According to anonymous sources which are close to actor says that he redid the renovation and decoration work with interiors as well and it took a couple of months. The more he added that “He is wanted everything fresh in his house right from furniture to cloths and household utilities to electronic appliances. Since all that is done and he is back in town, so he is ready to move into his plush, sea-facing flat in Juhu. However; the rent agreement is for the period of 36 months”.

Akshay_Kumar

Akshay Kumar, the Khiladi of Indian movie industry is well known actor and producer who have acted in many Hindi films. He is famous for his action and comic roles. He was born on 9th September 1967 in Amritsar with name Rajiv Hari Om Bhatia and later he married with Twinkle Khanna, daughter of Rajesh Khanna. He has received many awards for his acting and professional carrier such as; Two Screen Awards, Two Film-fare Awards, Three IIFA Awards, The Asian Awards, Ten Stardust Awards and more.

The reason for buying the specific bungalow in Juhu is that in his starting carrier he worked with Jayesh Sheth, the top most glamour photographer. And for his own portfolio shoot location was the same Juhu bungalow as outdoor location. Akshay Kumar’s residence ‘Prime Beach’ is mentioned in the autography of Mahatma Gandhi because once our Father of our Nation was used to live at the north end of Juhu Beach, which known as Gandhi Gram.

Born : 9 September 1967

Spouse : Twinkle Khanna

Children : 2 (1 son, 1 daughter)

Akshay’s  Juhu bungalow :

Akshay_house_Juhu

You can also reach him on :

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