In one of our earlier videos, we had told you how Bollywood is the landlord for most of Mumbai, because these stars, own the maximum properties in the maximum city. Well, when you’re getting paid in crores for every little thing you do, then real estate is the only traditionally safe place where you can park your funds and a city like Mumbai where the property rates never depreciate, is clearly, one of the top choices.
Now, the news of Ranveer Singh’s new apartment deal has sent the city’s flourishing real estate market in a tizzy because of its sheer scale. It’s truly mind-boggling and one of the most high value deals to have been struck in the city in the recent times.
Yes, in one of the biggest residential apartment deals in the country, Ranveer Singh has purchased a sea-facing quadruplex, meaning 4 floors, in suburban Bandra, for a jaw dropping 119 crore rupees. Actually, 118.94 crore rupees to be most precise. We are not sure if the star couple is opting for any loan to buy this hugely expensive piece of property or paying it all from their own earnings and savings. Sources say there is an elaborate instalment plan in place though.
Ranveer and Deepika bought the apartments spread across 16th, 17, 18 and 19 floor of Sagar Resham with multiple parkings – a new building at Bandra Bandstand, which is close to Shah Rukh Khan’s bungalow ‘Mannat’ and Salman Khan’s house in Galaxy Apartments. Actually, they bought a 16th floor apartment and a triplex from the 17th to 19th floor. The family has bought it from the builder called Enorm Nagpal Realty LLP. Property analysts said that all these residential apartments would probably be amalgamated to form one massive quadruplex, combining all the four private units.
Now, these apartments have been purchased under ‘Oh Five Oh Media Works LLP’ – a company which has Ranveer Singh and his father Jugjeet Bhavnani as directors. They bought the apartment in the building which is under construction after the builder took over an existing old property to redevelop it. The deal has a customisation component wherein the builder will make the four floors as per the preferences of the actor. At present, Sagar Resham doesn’t boast of names from Bollywood who will be the new neighbours of the star couple, sources added. This building mostly has four- and five-bed apartments.
A stamp duty of over ₹ 7 crore has been paid for the transaction, which includes the purchase of 11,266 sq ft space, an exclusive 1,300 sq ft terrace and as many as 19 parking lots. Imagine, this stamp duty of 7 crore 13 lakhs alone is enough for you to get a swanky 3 BHK in south Mumbai and way more than the cost of all my properties put together in Mumbai. Ranveer’s new apartments per square feet price works out to around 1 lakh rupees, which according to most real estate experts in pretty much the going rate in that area. Most apartments at Bandra sea face are upwards of 90,000 per sq feet and can go up to 1 lakh 10, 000 per square feet.
Ranveer-Deepika’s massive new apartment spread across 4 floors, is likely to serve as the primary home for Ranveer Singh and Deepika. Sources said they were in the market for nearly three years now looking for an independent bungalow in Juhu and Bandra, where a lot of celebrities stay.
Last year, the couple had bought a second home at Alibag for 22 crores.
But where do Ranveer and Deepika currently live in Mumbai?
Well, after Deepika Padukone and Ranveer Singh tied the knot in Italy in November 2018, and soon after, Ranveer Singh actually moved in with Deepika in her Prabhadevi home, which itself is nothing less than marvellous. Deepika Padukone’s current home in Mumbai is a 4BHK flat in Beaumonde Towers at Prabhadevi and sources say she is not selling this apartment either.
Deepika’s a 4BHK flat is on the 26th floor of Tower B of Beaumonde Towers, which is co-owned by her father and badminton champion, Prakash Padukone. She bought this property in 2010 for Rs 16 crores and has completely redone the interiors to suit her own taste and style. Deepika’s house Mumbai is spread over an area of 2,776 sq ft and has three parking lots. Back then, she paid a stamp duty of Rs 79 lakhs, to register the property.
Beaumonde Towers where Deepika currently lives with Ranveer, is one of the poshest properties, bang on the main road leading to Siddhivinayak and I remember this because a very dear friend and ex-colleague from Times Now, used to live there, who like Deepika belongs to Bangalore and has shifted to that city since the last many years.
But anyway, such high profile deals are nothing new in Bollywood. In January this year, Raj Kundra transferred five flats worth 38.5 crores to his wife Shilpa Shetty. In the same month, Kajol bought two flats in Juhu for 11.95 crores. Earlier this year, Akshay Kumar paid 7.84 crores for an apartment in Khar. This year, Chopra’s iconic B R House in Juhu was sold for ₹182 Crore. Last year, Jahnvi Kapoor got her own pad for an eye-popping 39 crores in Andheri.
The luxury homes market in Mumbai is the country’s most valuable property market, and has continued to see relentless demand, especially, given limited supply in premium neighbourhoods. While south Mumbai locations such as Worli continue to be see high-profile sales, upscale properties in suburban areas such as Bandra and Juhu have also seen high demand. Many developers have been buying old bungalows in the sea-facing areas of Bandra and Juhu, hoping for a relaxation in the coastal regulation zone or CRZ norms, which will lead to supply of more apartments in the area in the times ahead.
Let us know what kind of thoughts come to your mind when you hear about such insanely expensive property deals and the kind of luxurious lives that these celebrites live.
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