by THO
As South Indian actors and films gain popularity across the country, especially with the success of Baahubali, RRR, KGF, Ponniyin Selvan, Kalki 2898 AD, Kantara among others, there is an increasing trend of south Indian movie actors, directors and producers spending more time in Mumbai and even purchasing properties in the financial capital.
Real estate experts say that this trend is gaining momentum as several South Indian actors and directors stay for long in Mumbai for shoots or meetings and prefer to buy property in the city rather than rent one or stay in a hotel. Besides, the Mumbai property market offers higher growth in terms of price appreciation and greater chances of liquidating the asset.
K E Gnanavel Raja-owned Studio Green Films Private Limited buys property in Mumbai for ₹15 crore
Tamil film producer K E Gnanavel Raja-owned Studio Green Films Private Limited had purchased a 3,414-square feet apartment in Mumbai’s Andheri West suburb for ₹15 crore this year.
Headquartered in Chennai, Studio Green Films is a movie production and distribution company, owned and operated by K E Gnanavel Raja. The purchase came after the Tamil film producer reportedly inaugurated an office in Mumbai earlier. The said residential property is located in Wing B of Winspace Amelio in DN Nagar of Andheri West. The deal also includes parking space for three cars, the documents shared by Zapkey showed.
Bini Winspace Amelio comprises a total of 192 apartments spread across two towers in configurations of 1-4 BHK. The units range between 207 – 3,415 square feet in size. The transaction, which was registered on September 19, named Bini Builders Private Limited as the seller. The Andheri West suburb in Mumbai is a popular area amongst Bollywood celebrities for commercial real estate investment.
Prithviraj Sukumaran production house acquires ₹30 crore property in Pali Hill
Malayalam actor and filmmaker Prithviraj Sukumaran’s production house, Prithiviraj Productions Limited, has also bought a duplex for ₹30.6 crore in Mumbai’s posh Pali Hill area.
The duplex is spread across 2,970 sq ft and is located in a building named Narain Terraces in Pali Hill in Bandra. The housing society has ready-to-move-in 3 BHK, 4 BHK and 5 BHK apartments. The flat bought by the actor also includes four car parking spaces, the documents showed. The transaction was registered on September 12 for which a stamp duty of ₹1.84 crore and registration fee of ₹30,000 has been paid, according to the documents.
Prithviraj Sukumaran, along with his wife Supriya Menon, already own a luxury apartment in Pali Hill worth approximately Rs. 17 crore. The actor has acted in Bade Miyan Chote Miyan and Aadujeevitham (The Goat Life). The Goat Life is a 2024 Malayalam survival drama film written, directed, and co-produced by Blessy. It is an international co-production involving companies in India and the United States and an adaptation of the 2008 best-selling Malayalam novel.
Pali Hill is a premium address where several Bollywood stars and high net worth individuals have bought homes. The per sq ft rate of several luxury housing projects range from ₹1 lakh per sq ft and above, according to local brokers.
Suriya of Kanguva-fame moves to Mumbai
There have also been reports that Suriya, who has acted in the film Kanguva, has decided to move to Mumbai for personal reasons.
According to media reports, actor R Madhavan, popularly known as Maddy, has also purchased a property in Mumbai’s Kurla Complex area. According to property registration documents, the actor has purchased a 389-square-meter, i.e., 4,182-square-feet apartment for a whopping ₹17.5 crore in Bandra.
Samantha Ruth Prabhu. Rashmika Mandanna own apartments in Mumbai
As per media reports, Samantha Ruth Prabhu, who lives in Jubilee Hills in Hyderabad, had bought a 3BHK, sea-facing property in Mumbai worth ₹15 crore last year. The ‘Mission Majnu’ star Rashmika Mandanna had also purchased an apartment in Mumbai last year.
Why Mumbai?
Real estate experts are of the opinion that most actors and directors from South India prefer to purchase an additional home in Mumbai to diversify their property portfolio. Also, the real estate market in the financial capital offers higher appreciation compared to other markets and also liquidity, said Ritesh Mehta, Senior Director and Head – West, East & North India, Residential Services | Developer Initiatives.
According to Sandeep Reddy of Zapkey, with most South Indian films now becoming pan-India releases, actors and directors have gained both domestic and international acclaim. Also, since most shoots and meetings take place in Bollywood, the seat of the Indian film industry, they require a base in Mumbai. “Most of these shoots run into months and therefore directors and actors prefer to buy a property in Mumbai rather than rent one or stay in a hotel,” he said.
Buying property in Mumbai is also a status symbol. “It gives them a sense of having arrived in their careers. Besides, Mumbai offers a wide range of properties, starting at ₹5 crore to ₹100 crore,” he adds.
