On Location: Bollywood’s star-studded property deals of 2023

Mumbai real estate update: Some Bollywood stars put up their bungalows for redevelopment, some purchased luxury apartments, while others sold apartments they had purchased as an investment followed by few stars investing into commercial real estate.

Mumbai’s luxury real estate segment saw an upswing in 2023 with the closure of several big-ticket deals. Among those involved in high-value transactions were several Bollywood stars, who closed deals for residential as well as commercial properties.

Some stars put up their bungalows for redevelopment, some purchased luxury apartments, while others sold apartments they had purchased as an investment.

Moneycontrol brings you the star-studded property deals of 2023 in the Mumbai real estate market.

Amitabh Bachchan, Kartik Aryan, Sarah Ali Khan, Kajol, Manoj Bajpayee, and Ajay Devgn werein the news in 2023 for purchasing commercial properties cumulatively worth about Rs 150 crore in the westerns suburbs of Mumbai.

The stars are expected to rent these out and monetise their investment. Amitabh Bachchan, who purchased four commercial units in Oshiwara for around Rs 7 crore each in August 2023, rented them out last month for an annual consideration of Rs 2.07 crore.

Bachchan also gifted his bungalow, named Prateeksha, to daughter Shweta Nanda, in November 2023.

Bollywood superstar Salman Khan was in the news for leasing out 23,042 square feet (sq ft) of retail space in Mumbai’s Santacruz area to Landcraft Retail for an annual rent of around Rs 12 crore, and a security deposit Rs 5.4 crore, according to property registration documents.

The above deal was signed in August 2023. Thereafter, Khan leased a 1,300 sq ft apartment in Bandra for a rent of around Rs 1.5 lakh per month, for three years.

Suhana Khan, daughter of actor Shah Rukh Khan, was in the news when she bought 1.5 acres of agricultural land in Alibag, a weekend getaway near Mumbai, for Rs 12.91 crore. The deal was registered in June 2023.

Film producer and director Dinesh Vijan, founder of Maddock Films, purchased a residential property spread across 9,000 sq ft in Bandra for Rs 103 crore. This was one of the biggest purchases made by a Bollywood celebrity, and was registered in July 2023.

In the same area, Eternal Sunshine Production Pvt Ltd, actress Alia Bhatt’s production house, bought a 2,497 sq ft apartment for Rs 37.80 crore in April 2023.

In November 2023, actor Ranveer Singh sold two flats in Goregaon for Rs 15.25 crore. He had purchased the flats in December 2014 for Rs 4.64 crore each, according to documents accessed by online property consultancy IndexTap.com.

In August 2022, Kumar sold a property in Mumbai’s Andheri (west) area for Rs 6 crore to music director Daboo Malik. Kumar had bought the house in November 2017 for Rs 4.12 crore.

Actor John Abraham made the headlines when he purchased a 5,000 sq ft bungalow in Khar for Rs 70 crore on December 27, 2023.

In August 2023, late superstar Dilip Kumar's Pai Hill bungalow (in Bandra) went for redevelopment.

Actor Aamir Khan's Pali Hill building also went for redevelopment, in December 2023.