Bollywood celebs' latest hobby- real estate investment

Mumbai: Bachchan junior  aka Abhishek Bachchan seems to be spreading his wings these days. In a recent high-price transaction, the actor has booked a luxury apartment in an upcoming Worli project in Mumbai.According to media reports,
bollywood celebs latest hobby real estate...
India TV Entertainment Desk January 18, 2015 12:05 IST

Mumbai: Bachchan junior  aka Abhishek Bachchan seems to be spreading his wings these days. In a recent high-price transaction, the actor has booked a luxury apartment in an upcoming Worli project in Mumbai.

According to media reports, Abhishek has spent Rs. 41.14 crore to buy a 3875 sq ft flat in the Annie Besant area of Worli. What he will get in return is a five-bedroom house including a family room, dining and living rooms, wet and dry kitchens and 20 feet terraces on all sides on the 37th floor of Skylark Towers.

This is said to be one of the few projects in Mumbai where such unusually large terraces have been sanctioned by the authorities.

Reportedly the stamp duty alone amounts to Rs 2.05 crore apart from which he has also paid a separate club house membership of Rs 25 lakh and development charges of Rs 35 lakh.

As is preferred by stars, the amount has been paid entirely by cheque.

With this he has also joined the bandwagon of stars rushing to spend for prime real estates. Apart from him, many other stars of the industry have shown interest in property investment.

Hrithik Roshan spent around Rs 70 crore for a flat off Andheri Link road last year.

Similarly, last year in July, actor Shahid Kapoor spent Rs 30 crore for a sprawling apartment with a garden in Pranita building of Juhu road.

Reportedly, actor Vidya Balan also owns a flat in the same building.

Emraan Hashmi had also spent Rs 15 crore for an apartment on Pali Hill while Saif, Kareena have also bought a penthouse sometime back in Satguru Sharan building in Khar (West) for Rs 23.50 crore.

If news is to be believed, then Aamir Khan also planned to invest in a Pali Hill society however, due to a controversy by the residents of the society he dropped his idea.

Some stars even spend money in slum rehabilitation projects. They buy such properties either for personal use or as an investment channel.

In an interview to a newspaper in 2011, actor John Abraham had said, "I am very passionate about land. It is better than investing in the stock market. Even if there is a correction in land prices, the maximum it goes down is by about 20-30%."

Currently, he owns two buildings in Bandra and Khar and a plot too.

 
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