‘Just this year alone, close to 40 major transactions involving Bollywood stars have been recorded.’
Photograph: Kind courtesy Shah Rukh Khan/Instagram
Bollywood’s influence extends beyond films.
The industry’s top stars are known for their larger-than-life roles both on and off-screen. In real life, it’s reflected in their star-studded realty ventures.
They snap up luxury properties in posh pockets, shaping buyer sentiment of high-net-worth individuals (HNIs) and retail investors, ultimately boosting sales and market growth.
Celebrity real estate purchases are driven by lifestyle appeal in hotspots like South Bombay and Bandra, capital appreciation potential, portfolio diversification, and rising status from movie and OTT successes.
Square Yards, a proptech firm, noted that when a celebrity acquires a property — commercial or residential — it tends to boost market sentiment surrounding that asset.
“Real estate market is quite sentiment driven. Hence, when a celebrity purchases a property, it has a positive impact on the market around the particular property or area. Such deals are made with major developers, through research on returns and other particulars. However, people who intend to buy such properties are equally affluent buyers,” said Renuka Kulkarni, head-Research, Square Yards.
In recent times, Mumbai has seen a boom in real estate purchases from film personalities. Kulkarni added that celebrity property purchases are often facilitated by prominent developers.
For instance, Amitabh Bachchan acquired a commercial property at Oberoi 360 West in Worli, south central Mumbai, for Rs 60 crore (Rs 600 million), while Ajay Devgn holds a commercial space in Lotus Developers’ Signature Tower in Oshiwara, north west Mumbai, valued at around Rs 8,400,000 annually. Other celebrities with properties in Signature Tower include Kajol, Sara Ali Khan and Kartik Aaryan.
“Branded developers often see a surge in sales following high-profile deals, with celebrity purchases further enhancing the property’s appeal, driving sales and marketing momentum,” added Kulkarni.
Photograph: Kind courtesy Kajol/Instagram
Bollywood stars like Shah Rukh Khan, who debuted on the Hurun India Rich List 2024 with a net worth of Rs 7,300 crore (Rs 73 billion), along with other HNIs individuals such as Juhi Chawla, Hrithik Roshan and Karan Johar, are increasingly viewing real estate as a strategic avenue for portfolio diversification.
Aamir Khan recently bought a new residential property in Bella Vista apartments, located in Pali Hill, north west Mumbai, for Rs 9.75 crore (Rs 97.5 million). In the same apartment complex, he owns about nine of the 24 apartments.
Scriptwriter and poet Javed Akhtar recently purchased a property in Sagar Samrat in Juhu, north west Mumbai, for Rs 7.67 crore (Rs 76.7 million). In 2021, he purchased a neighbouring apartment covering 1,218.5 square feet for Rs 7 crore (Rs 70 million).
“Although returns may not match the highs of the stock market, these properties offer redevelopment potential, adding significant value. Real estate remains a stable investment, especially over a mid-to-long-term horizon,” Kulkarni said.
Photograph: Kind courtesy Amitabh Bachchan/Instagram
Religious destinations are also increasingly popular among celebrities. Cities like Ayodhya and Alibaug are becoming favoured spots.
In January, ahead of the Ram Mandir inauguration, Bachchan bought plots from the House of Abhinandan Lodha in both locations, valued at Rs 14 crore (Rs 140 million) and Rs 10 crore (Rs 10 million), respectively.
Suhana Khan purchased farmland in Alibaug in January 2023 for Rs 12.91 crore (Rs 129.1 million).
In July, Aryan Khan acquired a luxury property in South Delhi’s Panchsheel Park for Rs 37 crore (Rs 370 million), purchasing two floors in an apartment where Shah Rukh and Gauri Khan once lived, while Bachchan sold his South Delhi Gulmohar Park property for approximately Rs 23 crore (Rs 230 million).
“Bollywood celebrities purchasing real estate often encourages retail buyers to view those projects or localities more favourably, effectively serving as a soft marketing boost for the developers, plot or area,” said Sandeep Reddy, co-founder, Propstack and Zapkey.
Kanika Gupta Shori, founder and COO, Square Yards, stated that real estate has rebounded as a key investment choice, appealing to those seeking portfolio diversification and inflation protection.
“Just this year alone, close to 40 major transactions involving Bollywood stars have been recorded. It’s not just luxury homes; they’re also investing in commercial properties. Mumbai has emerged as a key hub, with certain individual property transactions reaching up to Rs 60 crore (Rs 600 million) in value,” said Shori.
