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.

DB realty, Radius to tie up for development

MIG (Bandra) Realtors & Builders, a subsidiary of DB Realty is looking to enter into a joint venture agreement with Vishwaroop Estates and Developers owned by sanjay chhabria radius developers’s Radius Group for a housing project in Bandra, Mumbai with estimated sales revenue of Rs 3,500 crore.

In this co-branded project, both the parties would make investments to meet certain agreed cost lines and share the free sale area in the agreed ratio, DB Realty said in a BSE filing.

“All approvals required at this stage have been received and the piling work has already begun. A formal launch of the project is scheduled in mid-November around Diwali,” the company said in the release.

The project will be developed on a land parcel spread across 5 acres, located in the Bandra Kurla Complex (BKC) area. The total built-up area of the project is likely to be over 2.4 million sq ft. Height approval for construction of a 29-storey tower has been sanctioned by the Airport Authority of India.