Amitabh Bachchan, Sara Ali Khan and Kartik Aaryan have purchased office spaces in Andheri, Mumbai, according to a Moneycontrol report citing documents accessed by FloorTap.com. The development shows the trend of several Bollywood stars investing in commercial real estate instead of residential ones for better rental yield.
Amitabh Bachchan, Sara Ali Khan and Kartik Aaryan have bought the properties in Signature Building, off Veera Desai Road in Andheri West. Recently, Bollywood actress Kajol also purchased office space in the same building for Rs 7.64 crore.
According to the Moneycontrol report, the built-up area of each commercial unit in the Signature Building is 2,099 square feet and the carpet area is 1,905 square feet.
In the deal, Amitabh Bachchan bought 4 units on the 21st floor of the building on July 1 this year and paid Rs 43.10 as stamp duty. The units include three parking slots. The seller is Veer Savarkar Projects Private Ltd.
Actor Karthik Aaryan bought a unit on the fourth floor for Rs 10.09 crore, which was registered on September 4, 2023. He paid a stamp duty of Rs 47.55 lakh. The seller is Aishwarya Property and Estates Private Ltd.
Actress Sara Ali Khan and her mother Amrita Singh bought a unit on the fourth floor of the Signature Building for Rs 9 crore from Aishwarya Property and Estates Private Ltd. It was registered on July 11 this year. A stamp duty of Rs 41.01 lakh was paid, according to the report attributing the documents.
Recently, Kajol purchased an office space spreading across RERA carpet area of 194.67 square metre in Signature Building, Oshiwara, from Veer Savarkar Projects Pvt Ltd. The agreement was signed on July 28 this year.
Overall real estate market has been witnessing a surge in demand after a two-year hiatus due to the pandemic. According to a recent report by Anarock, Mumbai registered 10,455 housing units in August 2023, which is the third consecutive month of over 10,000 property registrations. The revenue collected by the government this month was Rs 776 crore, a 7 per cent decline from July 2023, but a 21% increase from August 2022.
A quick assessment of new unit launches in Mumbai for the period of April-June 2023 indicates that properties ranging from 500-1,000 sq ft dominated with the highest share of 51 per cent. However, this has declined from 61 per cent in April-June 2022.
The Rs 1.5 crore-Rs 2.5 crore segment accounted for 27 per cent of the total new launches in April-June 2023, declining from 35 per cent in the first quarter of 2023. Contrary to the above, properties priced above Rs 2.5 crore accounted for 21 per cent of the total new launches in April-June 2023, indicating a noteworthy share and rise from 16 per cent in the April-June 2022 quarter.
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