After a record number of luxury real estate deals last year, the Mumbai property market continues to attract interest from celebrities in 2024. In 2023, a bunch of leading Bollywood stars like Amitabh Bachchan, Hrithik Roshan, Ranveer Singh, and Alia Bhatt picked up some luxury homes in the bustling city skyline.
This year, Bollywood’s Mr. Perfectionist Aamir Khan has decided to invest in Mumbai real estate. In a recent deal, Khan added a residential property in Bandra suburbs to his portfolio. According to property registration documents accessed and analysed by SquareYards.com, the actor acquired this prestigious property for Rs. 9.75 crore. The transfer deed for the 1,027 square-feet property was finalised on 25 June.
The property is located in Bella Vista Apartments, an upscale residential building situated in the affluent Pali Hills area – one of Mumbai’s most prestigious and sought-after residential areas. This upscale locality is home to several celebrities, industrialists, and expatriates. Interestingly, Aamir Khan already owns several properties in Bella Vista Apartments as well as Marina Apartments in Pali Hills.
Superstar Amitabh Bachchan, following his son Abhishek’s footsteps, recently picked up two apartments in Mumbai’s Borivali suburb for Rs 7 crore. The two apartments are located on the 57th floor of the same tower, where Abhishek’s six flats are located, as revealed by documents accessed through Zapkey.com. Last year, senior Bachchan purchased four apartments in Andheri’s Signature Building for Rs 29 crores.
Last year, Alia Bhatt’s production house Eternal Sunshine Production purchased a 2,497 sq.ft. apartment in Bandra for Rs 38 crore, while John Abraham purchased a 5,000 sq.ft. bungalow in Khar for Rs 70 crore.
In fact, in the last one and a half years, sales of luxury properties have boomed in India. The luxury real estate market in India experienced a remarkable increase in the sales value of luxury homes priced at Rs 50 crore and above, have surged 55% in 2023.
A report, prepared by JLL India shows, the total deal value of luxury homes surged to Rs 4,319 crore in 2023, a significant increase of approximately 51% over the value of Rs 2,859 crore worth of luxury homes recorded in 2022.
This surge in sales value was accompanied by a rise in the number of transactions, with at least 45 luxury homes sold in 2023, or 55% more than the 29 homes sold in the previous year. Of the 45 transactions, 58% were apartments and the rest 42% were bungalows.
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