In a significant move, Bollywood icon Amitabh Bachchan has expanded his real estate holdings by purchasing two premium apartments in Mumbai’s Borivali suburb. This acquisition comes hot on the heels of his son Abhishek Bachchan’s recent purchase of six apartments in the same area. The Borivali deal also follows Amitabh’s purchase of three office properties in Oshiwara, Andheri, indicating a strategic expansion in both residential and commercial real estate.
Details of the Purchase:
The newly acquired Borivali apartments were bought from Incline Realty, a subsidiary of Oberoi Realty, for nearly Rs 7 crores. These units are located on the 57th floor of a luxury tower, the same floor where Abhishek’s apartments are situated. The total area of these apartments is 2,188 square feet, providing ample space and luxury for the Bachchan family. The registration of these properties was completed on May 29, with a stamp duty payment of Rs 40.72 lakh, according to documents accessed via Zapkey.com.
A Shift in Celebrity Real Estate Trends:
This purchase has created a buzz in the property market, as it marks a shift from the traditional celebrity-preferred locales in South and Central Mumbai, including Bandra, Khar, and Juhu. Borivali, a suburb that offers a blend of urban convenience and residential tranquility, is now on the radar for high-profile buyers like the Bachchan family. This move could potentially set a trend, encouraging other celebrities to explore real estate opportunities in this area.
Real Estate: A Prime Investment for Celebrities
The Bachchan family’s recent real estate transactions underscore the enduring appeal of property investment among high-net-worth individuals. Real estate remains a top choice for wealth preservation and growth, offering both personal utility and significant financial returns. Bollywood celebrities, in particular, have been actively acquiring properties, recognizing the long-term value and security these assets provide. This strategic investment approach not only enhances their living standards but also contributes to their overall wealth portfolios.
The Growing Appeal of Borivali:
Borivali’s rise as a desirable location is attributed to several factors, including its improved infrastructure, connectivity, and availability of premium residential projects. The suburb offers a balanced lifestyle with access to parks, shopping centers, and educational institutions, making it an attractive choice for families and professionals alike. The Bachchan family’s investment in Borivali highlights the area’s potential for appreciation and growth, further boosting its appeal among potential buyers.
Conclusion:
Amitabh Bachchan’s recent real estate purchases, particularly in Borivali, reflect a strategic diversification of his property portfolio. By investing in both residential and commercial properties, the Bachchan family is reinforcing their commitment to real estate as a stable and lucrative investment. This move not only showcases their confidence in Mumbai’s property market but also sets a new trend for celebrity real estate investments in suburban areas. As Borivali continues to develop and attract high-profile residents, it is poised to become one of Mumbai’s most sought-after neighborhoods.