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John Abraham Splurges Rs 70.83 Crore on Mumbai Bungalow in Khar – ET RealEstate

Bollywood actor, producer and entrepreneur John Abraham has purchased a bungalow built over nearly one-fifth of an acre land parcel on tony Linking Road in Mumbai’s Khar locality for over Rs 70.83 crore.The bungalow, 372 Nirmal Bhavan, boasts an expansive total built-up area of 5,416 square feet, spanning across the ground floor and two additional levels. Notably, the actor has acquired this property through a transaction involving a total of 10 sellers, all of whom are members of the same family.The buyer has paid stamp duty of nearly Rs 4.25 crore for the registration of the deal that was concluded and registered on December 27, showed the documents accessed through IndexTap.com.It remains unclear whether the actor intends to embark on a redevelopment project for the property situated on the lively street or if the plan involves renovating the existing structure for personal residence.Currently, the actor resides at ‘Villa in the Sky’, a 4,000-sq-ft sea-facing penthouse located on the 7th and 8th floors of a residential complex in Bandra west.Apart from his career in Bollywood, according to media reports, John is known as an astute investor who has invested in various businesses, including internet services, food and beverage, community, fitness, and lifestyle.The actor is also owner of two sports teams– Guwahati-based NorthEast United, a professional football team in the Indian Super League; and Delhi Waveriders, a professional hockey team that plays in the Hockey India League.ET’s email query to Abraham’s team remained unanswered until the time of going to press.Real estate continues to stand out as a top choice for investments among high-net-worth individuals. Bollywood figures are actively acquiring properties, not just for personal use, but also as lucrative investment ventures.Several Bollywood actors, producers and directors including Amitabh Bachchan himself, Shahrukh Khan, Shilpa Shetty, Akshay Kumar, Abhishek Bachchan, and Aishwarya Rai have invested in properties.Many deals of high-end luxury properties acquired by Ranveer Singh, Hrithik Roshan, Rani Mukherjee, Alia Bhat, Disha Patani, and Janhvi Kapoor have also been reported in the last few quarters.

Published On Dec 31, 2023 at 07:01 PM IST

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