Deepika Padukone buys bungalow in Alibaug for Rs 22 crore

The property was registered on September 13 and an amount of Rs 1.32 crore was paid as stamp duty, the document showed.

The property is spread across 2.25 acres and has a built-up area of around 18,000 sq ft. As per the registration document, four plots have been amalgamated into a single land parcel.

The price of this bungalow works out to be around Rs 12,000 per sq ft, sources said.

The 5BHK ground-plus-first floor bungalow is located in an area called Satirje which is now also referred to as the billionaires’ street.

This particular bungalow is located in a village called Maapgaon and is about 10 minutes away from Kihim Beach, sources said, adding the Coastal Regulation Zone norms are not applicable in this area and therefore the built-up area is more.

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Several celebrities and industrialists have bungalows in Alibaug such as Navin Agarwal of Vedanta Resources, Gautam Singhania of Raymonds, Prakash Mody of Unichem Labs. Ltd, Salil Parekh of Infosys, Sanjay Nayar of KKR and Falguni Nayar of Nyka and equity investor Deven Mehta among others, brokers said.

Bollywood actor Shahrukh Khan has a bungalow overlooking the Thal beach, brokers said.

Bungalows in Alibaug are spread across 1 acre to 10 acres and are priced between Rs 10 crore to Rs 70 crore, local brokers told Moneycontrol.

A roll on-roll off (Roro)-cum-passenger ferry service is available between Mumbai and Mandwa near Alibaug. It takes about 45 minutes to reach Alibaug from Mumbai. The ferry was launched in 2020 and can accommodate 145 cars and around 500 passengers.

In Mumbai, Padukone and her husband have a 4BHK flat located in Mumbai's Prabhadevi.

Padukone and her father registered a sale deal of a serviced apartment in Bengaluru on August 7, 2021, and the stamp duty paid by them was Rs 34.64 lakh, the documents showed.

During Covid-19, several high-net-worth individuals (HNIs) in vertical Mumbai have bought properties in nearby Lonavla, Alibaug and Karjat.

“Today, there are several high-end buyers in the market scouting for both bungalows and plots,” said Ritesh Mehta, head, Residential Property Sales, JLL.

"Homebuyers in Mumbai are looking for second homes in the range of Rs 2 crore to Rs 50 crore that are just about a 90-minute drive from the main city. The idea is to reach Mumbai fast in case of an emergency,” he said.

The challenge these days is that there are limited quality land parcels in second homes category which are driving prices upwards in locations such as Alibaug and Lonavla, he said.

A survey by Savills India has also said that with the COVID-19 pandemic appearing to have created several resets in real estate and the wider acceptance of work from anywhere, the demand for second homes has gone up. As many as 70 percent respondents want to invest in a second home priced at Rs 2 crore or less within two years, a survey by Savills India, a global property consultancy firm amongst prospective homebuyers, has said.

Approximately three-fourths of the potential buyers would like a second home in locations like Dehradun, Nainital, Shimla, Goa, Alibaug, Lonavala, Mahabaleshwar, Coorg, Ooty and Wayanad, the survey said.

As many as 29 percent of the survey respondents would like to invest in the popular second home destinations in Maharashtra and 65 percent of the demand is within Rs 2 crore. Net yields of Maharashtra properties have been in the range of 4-6 percent, the survey said.