Mumbai’s poshest address, Linking Road, just got a new celebrity resident! John Abraham, the renowned actor and producer, has splurged on a luxurious bungalow in the area, reportedly shelling out a staggering ₹ 70.83 crore (approximately $8.6 million) for the property. This impressive property adds to his already impressive portfolio of investments in the city. This high-profile acquisition has sent ripples through the real estate market and Bollywood circles.
A Spacious Abode with Potential
The bungalow boasts an impressive 13,138 sq ft of space, spanning three floors – ground plus two. The sprawling property includes an open land area of 7,722 sq ft, and the existing structure, aptly named “Nirmal Bhavan,” covers 5,416 sq ft.
Prime Location, Prime Investment
Located on coveted Linking Road in Khar, the bungalow enjoys unmatched connectivity and proximity to upscale restaurants, trendy boutiques, and vibrant nightlife. This prime address is a haven for celebrities and affluent individuals, making John Abraham’s purchase a strategic investment.
Details of the Deal
The property previously belonged to the Shah family, with 81-year-old Pravin Nathalal Shah and his family members residing in Pennsylvania, USA. On December 27, 2023, John Abraham finalized the deal, paying a registration fee of ₹70.83 crore and an additional ₹4.24 crore in stamp duty.
Future Plans Remain Unrevealed
While John Abraham’s plans for the bungalow remain undisclosed, speculations are rife. Some suggest he moves in with his wife, Priya Runchal, while others believe he might redevelop the property for a future project.
John Abraham’s purchase of a Rs. 71 crore bungalow on Linking Road is a testament to his success in the film industry and his savvy investment acumen. This luxurious property will surely be his new haven for years to come while also offering him the potential for significant returns in the future.
A Sign of Bollywood’s Booming Real Estate Market
John Abraham’s hefty investment in Mumbai’s real estate scene reflects the continued buoyancy of the luxury property market, particularly in celebrity-preferred areas like Khar and Bandra. He joins a growing list of Bollywood celebrities who have invested in Mumbai’s real estate market. Shah Rukh Khan, Akshay Kumar, and Amitabh Bachchan are just a few examples of stars who own luxurious properties in the city. In 2024, we expect this trend to remain robust, with a likelihood of more high-profile acquisitions making headlines.