Amitabh and Jaya Bachchan Gift Iconic Juhu Bungalow Prateeksha to Daughter

Kailash Babar (THE ECONOMIC TIMES; November 25, 2023)

Amitabh Bachchan and Jaya Bachchan, renowned figures in Bollywood, have gifted their lavish bungalow, Pratiksha, in plush Juhu locality of Mumbai to their daughter Shweta Nanda.

The transfer of ownership was formalized through two distinct gift deeds, each corresponding to a specific plot on which the bungalow stands.

The deeds for the bungalow spread over a total 16,840 sq ft were executed on November 8th and registered the next day.

The Bachchan family has paid a total stamp duty worth Rs 50.65 lakh for both the gift deeds, showed the documents accessed through Zapkey.com. The market value of the bungalow is shown as over Rs 50.63 crore.

As per the current regulations, a residential property gifted by father to either daughter or son in Mumbai attracts stamp duty of nominal Rs 200 along with metro cess of 1% per deed.

One of the two plots the bungalow is built on is spread over 9,585 sq ft and was jointly owned by Amitabh and Jaya Bachchan, while the other plot spread over 7,255 sq ft was owned by Amitabh alone.

ET’s email query and text message to Amitabh Bachchan's team remained unanswered until the time of going to press.

The Bachchan family owns several properties in Mumbai including bungalows Jalsa, Pratiksha, and Janak in Juhu.

Recently, Amitabh Bachchan bought four offices spread over nearly 8,400 square feet in a commercial project in Oshiwara locality of Mumbai’s Andheri suburb for nearly Rs 29 crore.

Several Bollywood actors, producers and directors including Bachchan himself, Shah Rukh 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 Mukherji, Alia Bhat, Disha Patani and Janhvi Kapoor have also been reported in the last few quarters.
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THE TIMES OF INDIA (November 25, 2023)

Mumbai: Bollywood superstar Amitabh Bachchan and wife Jaya Bachchan have gifted their Juhu bungalow, Pratiksha, worth Rs 50 crore, to daughter Shweta Nanda, as per documents accessed by TOI.

The bungalow, one of the landmark residential properties in Mumbai, sees hordes of crowds at its gate every day. The plot is spread over roughly 17,000sqft. The property deed transferring the bungalow and its registration was done early this month. The actor paid a stamp duty of Rs 50.7 lakh. The transfer was done through two gift deeds.

The Bachchans moved into Pratiksha in 1976 and it is among several properties they own in Mumbai, including Jalsa and Janak in Juhu. The family has also invested in luxury apartments and commercial offices in upmarket city locations. Early this year, Jaya submitted a proposal for additional construction and alterations to an existing building in Kapol Society, Juhu Vile Parle. Plot No B2 (Jalsa) was approved in 1984 with a base ment, ground and two upper floors. The new proposal is to build the entire second floor (currently, it is only partly built) and an additional floor for residential use.

In one of his blogs a couple of years ago, Bachchan wrote how his father, the renowned poet Harivansh Rai Bachchan, gave Pratiksha its name. “Babuji saw the house as we invited him and Maaji to now live with us and named it... Prateeksha... it came from a line of one of his works.‘Swagat sabke liye yaha par, nahi kisi ke liye prateeksha...’ Welcome there is for all in this abode, but we are not waiting for anyone.”