Amitabh Bachchan, who's Kalki 2898 AD releases tomorrow, has bought properties worth over ₹100 crore in last one year
Amitabh Bachchan, who's Kalki 2898 AD releases tomorrow, has bought properties worth over ₹100 crore in last one year
Kalki 2898 AD’s star Amitabh Bachchan has been in the news in the last few days on account of his real estate investments, especially in the Mumbai real estate market. The Bollywood star has invested over ₹100 crore in properties over the last one year in the financial capital, Alibaug and the temple town of Ayodhya.
On June 20, 2024, Amitabh Bachchan registered three office units in Signature building of Mumbai for around ₹60 crore. The Bollywood star paid ₹59.58 crore for three office units, cumulatively measuring 8,429 square feet area, documents accessed from Floortap showed.
Similarly in September 2023, Bachchan had purchased additional four units in the same Signature building measuring over 8,396 sq ft for ₹29 crore. Other Bollywood stars Sara Ali Khan, Kartik Aaryan and Manoj Bajpayee also own office units in the same building.
Big B had also purchased a plot in The Sarayu ', a plotted development project being constructed by The House of Abhinandan Lodha (HoABL), a Mumbai-based real estate developer, in Ayodhya near the Ram Temple last year.
Also Read: Ram Temple consecration event: Amitabh Bachchan buys plot for home in Ayodhya
In April this year, the Kaun Banega Crorepati host, had bought a 10,000 sq ft land parcel in Alibaug, near Mumbai, in Maharashtra, for ₹10 crore from The House of Abhinandan Lodha (HoABL).
Earlier, on May 28, 2024, his son Abhishek Bachchan had also registered six apartments in Oberoi Realty's Oberoi Sky City project in Borivali west area of Mumbai. The six apartments totalling 4,894 sq ft of RERA carpet were bought for ₹15.42 crore.
Also read: Mumbai real estate news: Abhishek Bachchan buys six apartments for more than ₹15 crore in Borivali area
Why is Kalki 2898 AD's star Amitabh Bachchan on a property-buying spree?
Bollywood stars, high net worth individuals, investors, industrialists generally prefer investing in Grade A properties. Commercial office spaces are a favorite as they give better returns compared to residential projects, according to real estate consultants.
Also Read: Kalki 2898 AD's actor Amitabh Bachchan buys land in Alibaug for ₹10 crore
Commercial assets like office space, retail space, warehouses give 6-10% gross rental yield in Metro cities and even higher in several cases. However, residential properties, on the other hand, give gross rental yields between 3% and 5%. Land on the other hand is one of the most lucrative investments and offers higher capital appreciation if held for the long term, consultants said.
"If you speak about Bollywood stars or high-net-worth individuals in general, the purpose of investment is the same. The two important factors are capital appreciation and rental yields. That’s the reason why Bollywood stars or even a regular investor would invest in real estate,” said Swapnil Anil, executive director and head, Advisory Services, Colliers India, a real estate consultancy firm.
Also Read: Ajay Devgn leases commercial property in Andheri West, Mumbai, for a monthly rent of ₹9 lakh
"Now, if you speak about recent Bollywood stars' investments, I feel they prefer to invest in established markets where capital appreciation is expected to be healthy and there is fixed income assured from rent. In terms of land investment, be it any investor, the focus is on capital appreciation," added Swapnil Anil.
Also Read: Amitabh Bachchan rents out commercial space for annual rental of ₹2.07 cr
Read more news like this on HindustanTimes.com