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, 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 Mukerji, Alia Bhat, Disha Patani, and Janhvi Kapoor have also been reported in the last few quarters.

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Mumbai: In another big ticket property purchase involving a Bollywood personality, actor John Abraham has sealed a deal to buy a bungalow on Linking Road, Khar. The cost: Rs 75 crore. The property, 372 Nirmal Bhavan, is a ground-plus-two storey structure which belonged to Pravin Nathalal Shah and family.

According to IndexTap.com, the deal with the actor was signed on December 27 for an agreement value of Rs 70.8 crores. An additional Rs 4.25 crore was paid as stamp duty. The land area is 7,722 sq ft while the bungalow's area is 5,416 sq ft.

It is not known what Abraham plans to do with the property. Property market sources said the plot is located in a prime area of Linking Road, which commands one of the highest commercial property rates in the city. “Rentals for high street retail shops on Linking Road are in excess of Rs 800 per sq ft. It is one of the costliest retail market's in India,” said Pankaj Kapoor of Lias Foras.

Abraham is one of several Bollywood personalities heavily invested in real estate. In 2009, he bought a prime plot at Union Park near Petit School from a Parsi family, the Rattanshas. A source close to the actor had earlier told TOI the actor has no immediate plans to build on the plot.

Actor Salman Khan too owns a four-floor commercial space on Linking Road, Santacruz, which he bought for Rs 120 crore a decade ago. Real estate market experts said that since they are constantly in the limelight, Bollywood stars can rarely do a real estate deal, be it a sale or purchase, unnoticed. 

“Many Bollywood celebrities invest in real estate, including luxury apartments, villas, and commercial spaces for personal or investment reasons. Some Bollywood celebrities have even struck out into the real estate development business themselves and have launched their own real estate firms or partnered with existing developers to create housing projects, resorts, or other real estate ventures. Others have also forayed into interior design and home decor businesses,” said Anuj Puri, chairman of Anarock Group.

Puri said that from a sale perspective, several Bollywood celebrities have been seen selling their bungalows in prime areas such as Bandra, Juhu and Khar - the prominent areas that Bollywood stars tend to favour - to developers, who then redevelop them into high-rise premium residences.

“Mostly, the celebrities sell their bungalows - or rather the plots they stand on - at a premium and also take a share in the new built-up project, such as a prime apartment, penthouse, or commercial space on the ground floor. This trend is quite prominent. Developers on their part redevelop these bungalows into high-rises and sell at a premium, between Rs 70,000 to Rs 80,000 per sq ft in the most prime areas."