Aishwarya-Rai-Bachchan

Mumbai’s burgeoning Central Business District, Bandra-Kurla Complex is fast becoming a promising destination for many super wealthy who have begun purchasing luxury flats here. The area is emerging as an enclave that is already a home to many industrialists and celebrities.

Industrialists like Gautam Adani, Vikram Pandit and Kishore Lulla already own property here. And the  the latest HNI to join the party is Aishwarya Rai Bachchan. The B-town  actress has recently purchased a 5,500 five bedroom premium apartment in one of the high end projects at Bandra Kurla Complex.

The sprawling five bedroom home purchased at 38,000 per square feet was registered last week at a high price of INR 21 crore. Apartments in the BKC expanse are cited to cost anywhere between INR 35 crore and INR 55 crore.

Several High Net-worth Individuals are buying homes in BKC not just for investment, but also for end use. The strategic location of the area and proximity to the international airport is luring many affluent individuals to buy luxury apartments here for residential purposes. It is reported that billionaire Uday Kotak of Kotak Mahindra Bank and actress Sonam Kapoor too have purchased apartments in the same project.

The capital values of apartments here are expected to hover between INR 19,678 and INR 39,376 per square feet. While extravagant luxury flats in the BKC stretch are cited to spread over 11,000 square feet, the smaller ones are estimated to range over 7,000 square feet. The capital values of high end properties have appreciated by over 8.2%, making the neighbourhood an ideal destination for investors as well as home buyers.

Due to the soaring capital values, residential developments in BKC have a restricted clientele. However, the demand for high end projects is increasing day by day. With the affluent having a high purchasing power, real estate developers are launching capital ventures that boast of having world class specifications.