Celebrity Property Purchases Are Transforming Indian Real Estate

Bollywood celebrities are changing the face of Mumbai's real estate industry with massive property investments, which is most certainly changing the landscape of the entire area. Whenever a mega-star acquires a residential or commercial property, it influences the property prices of the locality either as a whole or the surrounding areas. Kanika Shori, the co-founder and COO of Square Yards, believes that the real estate industry has re-emerged as a key investment choice, which helps stakeholders diversify their portfolios and protect their finances from inflation.

She added, “Just this year alone, close to 40 major Bollywood Stars transactions have been recorded. It’s not just luxury homes; they’re also investing in commercial properties.” These include Amitabh Backhan’s INR 60 Crore investment and Ajay Devgan’s INR 84 Lakhs rental investment. Shori further added, “Mumbai has emerged as a key hub, with certain individual property transactions reaching up to Rupees 60 crore in value.”

This can perhaps be due to the influence of Bollywood celebrities and their recent property purchases and sales, as mentioned below: 

Mega stars' purchases can significantly impact the surrounding areas and the respective apartment buildings in these localities. The list of celebrities who have invested in Mumbai’s real estate industry keeps on increasing, with individuals like Juhi Chawla, Karan Johar, and Shah Rukh Khan constantly diversifying their real estate portfolios. 

Renuka Kulkarni, head of research at Square Yards, stated that branded developers witness a notable rise in high-profile property deals when a major celebrity invests in a project. She added, “Although returns may not match the highs of the Stock Market, these properties offer redevelopment potential, adding significant value.” This draws numerous high-profile deals to the neighbourhoods. Renuka Kulkarni believes such transactions boost the property's overall appeal and contribute to building a distinctive “marketing momentum.”