A Major Real Estate Investment in Bandra West
Bollywood actress Deepika Padukone has recently made headlines with her latest real estate investment. Her company, KA Enterprises LLP, acquired a luxury apartment in the prestigious Sagar Resham Co-operative Housing Society in Bandra West, Mumbai, for ₹17.78 crore. This significant purchase, finalized on September 12, 2024, comes just days after her mother-in-law, Anju Bhavnani, bought an adjacent apartment for ₹19.13 crore.
The new apartment, measuring approximately 1,846 square feet, includes four bedrooms and a dedicated parking space. The property, is developed by Enorm Nagpal Realty, and is located near the scenic Bandstand, a favored spot among celebrities. The deal incurred a stamp duty of around ₹1.07 crore and registration charges of ₹30,000, highlighting the premium nature of this investment via documents accessed by SquareFeatIndia provided by Square Yards.
KA Enterprises LLP, co-owned by Deepika and her father, Prakash Padukone, is primarily focused on global venture investments in high-growth consumer and technology sectors, marking this purchase as a strategic addition to their portfolio.
Rental Agreement for Anju Bhavnani’s Apartment
In a related development, Anju Bhavnani finalized the purchase of her apartment on September 5, 2024, also in the Sagar Resham society. This property spans 1,822.45 square feet and comes with similar amenities, including one parking space. The transaction for this apartment included a stamp duty of ₹95.68 lakh, with a registration fee of ₹30,000.
Notably, on the same day as the acquisition, Anju’s apartment was leased to her daughter, Ritika Bhavnani, and husband, Jugjeet Singh Bhavnani. The lease agreement, registered under R.S. Filmcraft (OPC) Pvt. Ltd. and Oh Five Oh Talent LLP, is set for a tenure of 55 months. The initial monthly rent is set at ₹8.20 lakh for the first 33 months, which will increase by 15% to ₹9.43 lakh for the remaining period. Additionally, a substantial security deposit of ₹73.80 lakh and a stamp duty of ₹1.29 lakh were part of the lease arrangement.
Deepika’s husband, Ranveer Singh, already owns multiple floors in the same building, purchased for an astonishing ₹119 crores in 2022.
In the same building, in July 2022, Ranveer Singh and his father, Jugjeet Sundersingh Bhavnani, via their firm Oh Five Oh Media Works LLP, purchased a quadraplex for ₹119 crore. This luxurious property spans the 16th to 19th floors of the Sagar Resham Co-operative Housing Society, featuring a carpet area of 11,266 square feet, exclusive of a 1,300 square foot terrace. The deal also includes 19 dedicated parking spaces. The registration took place on July 8, 2022, with a per square foot rate of approximately ₹1.05 lakh, making them neighbors to Bollywood superstar Shah Rukh Khan.
A Trend in Celebrity Real Estate
Deepika and Anju Bhavnani’s property acquisitions reflect a larger trend among Bollywood celebrities investing in Bandra West. Other notable figures, including Aamir Khan, Tripti Dimri, K.L. Rahul, and Athiya Shetty, have also made headlines with their recent purchases in the area, with transaction values ranging from ₹9.76 crore to ₹20 crore.
These high-profile investments underline Bandra’s status as a coveted residential area for the rich and famous, reinforcing its appeal in the real estate market. As more celebrities opt for luxury properties in this locality, the trend is likely to continue, further boosting property values and attracting more investors.
Also Read: Actor Prithviraj Acquires Luxury Duplex in Mumbai for ₹30.6 Crore
