Kangana Ranaut

Kailash Babar (THE ECONOMIC TIMES; September 10, 2024)

Bollywood actor, producer, and politician Kangana Ranaut has sold her bungalow on Nargis Dutt Road in plush Pali Hill locality of Mumbai’s western suburb Bandra west to a Hyderabad-based company for Rs 32 crore.

The ground plus 3-storey property has a total built up area of 3,075 sq ft along with a parking garage spread over 565 sq ft. The bungalow has been sold to Kamalini Holdings at Rs 1.04 lakh per sq ft basis the built-up space.

The property is part of a co-operative society developed on nearly an acre of prime land parcel, but has its independent access. Ranaut had bought this property for Rs 20.70 crore in September 2017.

The buyer has paid stamp duty worth Rs 1.92 crore for the registration of the transaction that took place on September 5, showed the documents accessed through IndexTap.com.

The actor has recently purchased an office property in Mumbai’s western suburb Andheri for over Rs 1.56 crore. This property is spread over a carpet area of 407 sq ft on the 19th floor of an under-construction commercial project. Ranaut has bought this property at Rs 38,391 per sq ft on carpet area basis.

ET’s email query to Ranaut’s team remained unanswered until the time of going to press. Kamalini Holdings could not be reached for a comment.

Real estate continues to be a top investment choice for high net-worth individuals. Bollywood celebrities have been actively acquiring properties, recognizing the value of these assets not just for personal use but also as an attractive investment opportunity that can contribute to their growing wealth portfolios.

Several prominent personalities from Bollywood, including actors, producers, and directors such as Amitabh Bachchan, Shah Rukh Khan, Shilpa Shetty, Akshay Kumar, Abhishek Bachchan and Aishwarya Rai, have actively invested in various real estate ventures.

These industry stalwarts have been strategically diversifying their portfolios by acquiring properties across prime locations.

Additionally, in recent quarters, notable celebrities like Ranveer Singh, Hrithik Roshan, Rani Mukerji, Alia Bhatt, Disha Patani, and Janhvi Kapoor have also been involved in multiple high-profile transactions, focusing particularly on luxurious and upscale properties.
--------------------------------------------------
THE TIMES OF INDIA (September 10, 2024)

Mumbai: Four years after her sprawling property was caught in the crosshairs of the BMC and parts of it were demolished, actor and BJP MP Kangana Ranaut has sold her Pali Hill row house for Rs 32 crore. The ground plus three-storey building at Nargis Dutt Road in Bandra (W) has been purchased by Kamalini Holdings, according to IndexTap.com.

The sale agreement for the 3,075 sq ft property with one parking slot was registered last week. The new owner paid a stamp duty of Rs 1.9 crore. She had purchased the bungalow in 2017 for Rs 20 crore.
In Sept 2020, during the Covid lockdown, BMC had issued Ranaut a 24-hour notice on al leged “illegal alteration and construction” after she renovated the bungalow and then sent bulldozers to raze the changes.
--------------------------------------------------
Mumbai: Actor and BJP MP Kangana Ranaut sold for Rs 32 crore the Pali Hill row house that had landed her in trouble with BMC, which had claimed it had been converted into an office.

The BMC notice listed out unauthorized constructions as toilet, kitchen, and pantry on the ground floor. It also mentioned an unauthorized room built on the first floor and illegal inclusion of a second-floor balcony into a habitable area. The bungalow was earlier used as a kindergarten. She had approached the residents’ association to inform them that after renovation, she would use the bungalow as an office-cum-home.

Soon after the notice, BMC bulldozers arrived and demolished large portions of the structure, forcing the actor to rush to HC. The court set aside the BMC’s demolition order and held that the demolition action “was actuated by mala fides”. It held that the constructions done by her in her Bandra bungalow was “pre-existing” and not ongoing and also held that she is entitled to damages but appointed a valuer to help quantify it. HC ordered BMC to compensate her.