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BIg B new house and celebs real estate deals

Mumbai, July 8 (): Big B aka Amitabh Bachchan has added another house worth Rs 50 crore to his property list. This is the fifth house that he owns in Juhu.

Jalsa the house where he stays is on the Juhu Beach busy VM Road junction,. This house always witnesses a crowd of people who wait outside to catch a glimpse of Big B or his son Abhishek and wife Aishwarya. The new house is a one that is adjacent to Jalsa and opens into another street which gives Big B and his family a respite from the crowds. Currently it is under renovation. The new house is a large building, brown and cream in colour, surrounded by trees, and now parts of it are covered with rainproof sheets.

Jaya Bachchan filing with the Rajya Sabha in 2012 shows that she owns four houses in the Juhu Vile Parle Development area. All the four houses together are valued at Rs 112 crores and these were bought from 1975 onwards. The valuation is according to the Government guideline value but in the market it is around Rs 300 crores. The new house is around 8,000 square feet.

The buying rate was put at a little over Rs 60,000 per square foot. Realtors say that the price the Bachchans paid was the market rate.

Some purchases by celebs like Sachin Tendulkar who paid Rs 1,30,000 per square feet to buy for Rs 80 crore a 6,000-square-feet bungalow, on Tony Perry Cross Road in Bandra, is rated to be on the high side.

Real estate experts say that since the bungalow is a sea-facing property, the rates could be on the higher side. Realtors put Shah Rukh Khan’s 20000 square feet `Mannat’ in Bandra , with 5,000 square heritage building added, to be worth more than Rs 100 crore.

Earlier generation stars and celebs preferred South Mumbai but now Juhu-Vile Parle , Bandra and Versova in the western suburbs are where the film celebs prefer. The beach view and the rates are cheaper than South Mumbai, that makes it attractive.

Yet another advantage is that the Coastal Regulation Zone (CRZ) rules do not permit high-rises thus giving relief from neighbours looking out of their flats. A 900 square feet plot was bought by singer Sonu Nigam in Juhu. It was once a hotel. The buy was for Rs 25 crore and he will spend more to build a new bungalow there.

Bamboo walls act as fence for Rekha’s residence in Bandra, while SRKs Mannat is covered by giant creeper-laden gates.

Biz community real estate dealings in South Mumbai are more bigger than the film celebs. Gulistan the bungalow on Napean sea road ,which Anand Mahindra bought for Rs 250 crore, is because his family were staying there as tenants.

On the same road, an acre of land with a bungalow called Maheswari Mansion was bought for Rs 500 crore by Sajan Jindal. On Altamount road, a 14,800 square feet house was bought for Rs 128 crore by Rana Kapoor , YES bank CEO.