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Bollywood stars are majorly impacting the Indian real estate market, with over 40 high-profile property deals recorded in 2024. Square Yards COO and co-founder Kanika Gupta Shori highlighted this trend, noting that close to 40 major transactions involving Bollywood Stars have been recorded. |
Bollywood celebrities greatly impact fans’ lives through their impressive personalities and extensive film portfolios. More so, their influence is clearly getting noteworthy in the real estate market. Mega stars like Amitabh Bachchan and Deepika Padukone are investing in residential and commercial properties, substantially impacting surrounding areas and local real estate prices. Kanika Gupta Shori, the COO and co-founder of Square Yards, is a firm proponent of the idea that real estate has re-emerged as a choice for investors to diversify their portfolios, protecting their financial assets against inflation.
She recently stated, “Just this year alone, close to 40 major transactions involving Bollywood Stars have been recorded. It’s not just luxury homes; they’re also investing in commercial properties.” Further adding, Shori commented, “Mumbai has emerged as a key hub, with certain individual property transactions reaching up to Rupees 60 crore in value.” Some of these transactions include Amitabh Backhan’s commercial property acquisition in Oberoi 360 West for INR 60 crores and Ajay Devgan’s rental property in Signature Tower for INR INR 84 Lakhs.
Renuka Kulkarni, head researcher of Square Yards, also remarked that the real estate industry in India is driven by sentiment, so whenever a celebrity purchases a property, it has a positive impact on the area surrounding it. She commented, “Branded developers often see a surge in sales following high-profile deals with celebrity purchases, further enhancing the property’s appeal, driving sales and marketing momentum.”
This trend can be seen in various localities of Mumbai, including Aamir Khan’s Belle Vista apartments, which are worth INR 9.75 each and Javed Akhtar’s INR 7.67 residential property in Sagar Samrat. Kulkarni commented on the same, saying, “Although returns may not match the highs of the Stock Market, these properties offer redevelopment potential, adding significant value.”
It seems that many Bollywood celebrities have started following this trend and have made major real estate investments to expand their portfolios. This attracts numerous high-profile deals in the neighbourhoods. Renuka Kulkarni believes these transactions enhance the property’s overall appeal and help create a unique “marketing momentum.”
Read more through the links below to uncover the key trends and market leaders driving this growth:
Business Standard – https://bit.ly/4ei0BpR
Published Date: 3 Nov, 2024
