Juhi Chawla buys property in Alibaug for Rs 1.89 crore

Actor Juhi Chawla, who was in the news recently for having signed a Rs 1 lakh bond in Mumbai’s sessions court as a surety for Shah Rukh Khan’s son Aryan Khan, has bought a land parcel in Alibaug for Rs 1.89 crore, documents accessed by Zapkey.com showed.

The property spread across .3060 hectares (0.75 acres) is located in Mapgaun.

A stamp duty of Rs 11.34 lakh was paid by her. The documents were registered on October 22.

There was no response from Juhi Chawla. The copy will be updated once a response is received.

In September, Bollywood actors Deepika Padukone and her husband Ranveer Singh had bought a second home in Alibaug for Rs 22 crore. The bungalow was earlier owned by Rajesh Jaggi of The Everstone Group, sources said.

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The buyers of the property were KA Enterprises LLP, where Deepika Padukone is a partner and RS Worldwide Entertainment Private Limited where Ranveer Singh is a director. The property was registered on September 13 and an amount of Rs 1.32 crore was paid as stamp duty, the document showed.

Last month, a six-acre beachfront home in Awas Village in Alibaug was purchased by Shrikantadevi Damani, wife of supermarket chain DMart's founder Radhakishan Damani, for Rs 80 crore.

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 Nykaa and equity investor Deven Mehta among others, brokers said.

Bollywood actor Shah Rukh 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.

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, according to the survey by the global property consultancy firm.