Real estate investment - Bollywood actors' latest hobby

Mumbai: Now a day, spending crores of money for prime real estate’s become hobby for Bollywood celebrities. Real estate investment is the latest hobby.

Junior Bachchan named as Abhishek Bachchan had a dazzling 2014 and he seems to expand his wings these days. According to recent media reports, the Indian actor Abhishek has spent a whooping Rs 41.14 crore to book a luxury apartment of a 3875 sq ft in an upcoming project in the Annie Besant Road Area of Worli, Mumbai which is Rs 1.06 Lakh per sq ft.  

The luxury apartment boasts of five bedrooms including a family room, living room and dining room, wet and dry kitchens and 20 feet terraces on all sides and it is on the 37th floor of the Skylark Towers.

This project is one of the few Hi projects in Mumbai, where the large terraces have been endorsed by the authorities.

As per the TOI report, stamp duty alone costs Rs 2.05 crore and apart from this he also spent Rs 25 lakh for club house membership and Rs 35 lakh for development charges. The entire amount has been paid through cheque.

With this real estate investment, Junior Bachchan has united the bandwagon of stars rushing to spend for prime real estates. Along with Jr. Bachchan many other celebs have shown interest in real estate investment.

Last year, Hrithik Roshan spent whooping Rs 70 crore for a luxury apartment in Andheri Link Road. In the same way Shahid Kapoor also spent Rs 30 crore for an extensive apartment with a garden in pranita building of Juhu Road.

Media Reports revealed that actor Vidhya Balan also owns an apartment in the same building.

Similarly, Emraan Hashmi spent Rs 15 crore for an extensive apartment on Pali Hill, where as sometime back Kareena, Saif spent crores of money on a penthouse in the Satguru Sharan building in Khar West.

In addition, Aamir Khan also planned to buy a house in a Pali Hill society, but due to some storms by the residents he declined his thought.

Few celebs are also investing in slum rehabilitation projects for personal use or investment purpose.

In 2011 John Abraham had given a statement to an interviewer of newspaper “I am very obsessive about land. It is better to invest in real estate than the stock market.  Even if there is an amendment in land prices, the maximum it goes down is about 20-30%.” He owns one plot and two buildings in Khar and Bandra.