Investing in iconic mansions has always been a symbol of success. In Bollywood, especially, stars in the 1980s and 90s have brought homes worth mentioning in history. But what about the wealth they haven’t invested in?
Shifting this narrative, stars in 2024 invest in properties and land beyond homes to diversify their investments. While Mumbai is in the limelight for such investments, holiday spots and potential commercial locals are popular amongst high profiles. Such a shift reflects Bollywood’s growing wealth and ability to tap into the city’s booming property market.
Recapping Mumbai’s Real Estate
Mumbai’s map has evolved with time. In the 1960s, Bollywood stars like Dev Anand, Nargis, and Dilip Kumar called the upscale areas of South Mumbai, such as Malabar Hill and Colaba, home. Over the years, areas like Bandra, Khar, and Juhu took centre stage. Amitabh Bachchan and Rishi Kapoor are some of the stars that invested in large bungalows here.
As these areas became more expensive, the acting community began to invest in newer, emerging areas like Andheri, Lokhandwala, and Oshiwara. These areas have become prime residential and commercial hubs of the 21st century. Â
“The celebrity real estate journey mirrors Mumbai’s economic and urban development as well as Bollywood’s evolution over the decades, which have significantly influenced where the film and TV community choose to reside,” Shori says.
Today, Bandra remains a popular area for Bollywood’s elite, with stars like Shah Rukh Khan, Salman Khan, and Aamir Khan calling it home. Newer celebrities follow suit, including Janhvi Kapoor, Athiya Shetty, and Ananya Panday. Reflecting on this trend, She said:Â
“Even today, newer celebrities like Janhvi Kapoor, Athiya Shetty, and Ananya Panday have made Bandra their home, while Sonakshi Sinha and Alia Bhatt reside in Juhu. Janhvi Kapoor, for instance, made a cumulative ₹130 crore purchase in Bandra in 2022.”
What Our Market Leaders Have To Say?
According to Kanika Gupta Shori, Square Yard founder and COO, the shift towards high-end properties is a response to the growing need for convenience, exclusivity, and top-tier amenities.
“With rising land prices in Mumbai, recent transactions show a shift toward luxury high-rises by top developers, offering top-tier amenities and catering to the growing demand for convenience, exclusivity, and modern living as well as presenting strong investment opportunities,” She said.
For years, real estate in Mumbai was primarily seen as a lifestyle choice for Bollywood stars. But now, with rising wealth driven by endorsements, stage shows, and international tours, many celebrities view it as a smart, long-term investment.
“With higher revenues and increased wealth, celebrities began to view real estate not just as a lifestyle choice but also as a strategic investment vehicle, diversifying their portfolios beyond traditional end-use properties,” says Shori.
The data speaks for itself! She highlighted the statistics of how much Bollywood has indulged in real estate investments.
“Post-2020, about 63% of celebrity real estate transactions in Mumbai have been in residential spaces, with 33% in commercial real estate and the remaining in other asset classes, a clear indicator of diversification. Notable examples include Ajay Devgn’s investment in a commercial complex in Andheri, which has been rented out for 27 lakh per month”
Beyond Mumbai: Celebrities Expanding Their Horizons
Celebrities are also diversifying their portfolios beyond Mumbai.
“Global real estate investments are becoming popular, with celebrities like Shah Rukh Khan, Aishwarya and Abhishek Bachchan, and Akshay Kumar acquiring properties in Dubai, the U.K., the U.S., and Canada,” Shori adds, highlighting how Bollywood’s elite are venturing into global markets, capitalising on international real estate opportunities.
In India, stars like Amitabh Bachchan, Salman Khan, and Shah Rukh Khan have also invested in luxury holiday homes, with properties in Panvel and Alibaug becoming hot spots. Priyanka Chopra Jonas and Akshay Kumar, known for their business savvy, have also made significant investments in Goa.
To take a deep dive into this data and hear what Kanika said about the same, check the link:
The Hindu – https://bit.ly/4iGktXo
Published Date: 16 Dec, 2024
