by THO
For decades, the real estate market in India has received its fair share of interest from the Bollywood fraternity as a preferred area of investment, especially commercial properties. However, this year, several land deals closed by celebrities have made headlines.
Bollywood actor Kriti Sanon in July purchased a 2,000-square foot plot in Alibaug, a second home destination near Mumbai. Sanon has purchased the land parcel in the Sol de Alibaug project by The House of Abhinandan Lodha, as per a company statement.
Also Read: After Amitabh Bachchan, Kriti Sanon now buys a 2,000 sq ft property in Alibaug
“Buying land on my own has been quite an empowering journey and I have had my eyes on Alibaug, for a while. I was pretty clear about what I was looking for – peace, privacy and a great investment addition to my portfolio,” Kirti Sanon said, commenting on the deal.
Earlier, Amitabh Bachchan had bought a 10,000-square foot plot in the same project in Alibaug for ₹10 crore.
Prior to this, Amitabh Bachchan had also purchased a land parcel from the same builder in Ayodhya in its project The Sarayu, which is a 7-star mixed-use enclave coming up in the temple town. Real estate industry sources had said that the plot ,where Bachchan intends to build a home spanning around 10,000 square feet, was valued at ₹14.5 crore.
Younger set of buyers
The long list of celebrity clients also includes names from the younger generation of actors. Shah Rukh Khan’s daughter Suhana Khan, who made her screen debut in India with The Archies, had purchased a farm land in Thal village in Alibaug for ₹9.5 crore in February this year.
Suhana’s father Shah Rukh Khan also owns a sea-facing property in Thal, with a swimming pool and a helipad, where he reportedly enjoys hosting parties for his friends from Bollywood.
Last year Suhana had also invested in an agricultural land spanning 1.5 acres with three structures on it in Alibaug’s Raigad district for ₹12.91 crore.
Earlier this year, Deepinder Goyal, founder and CEO of online food delivery platform Zomato acquired two expansive land parcels totaling approximately 5 acres in Mehrauli Tehsil, New Delhi, at a combined cost of ₹79 crore.
According to experts, land parcels as an asset class offer Bollywood stars a means to diversify their investment profolio and create wealth in the long term, experts say.
