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HomeNewsReal EstateAmitabh Bachchan buys land parcel from HoABL to build luxury villa

Amitabh Bachchan buys land parcel from HoABL to build luxury villa

Amitabh Bachchan has acquired a land parcel in Alibaug near the country’s financial capital Mumbai to build a luxury villa in the beach town known for sea view properties of rich and famous personalities, said persons with direct knowledge of the development.

“The actor has bought the land parcel spread over a quarter of an acre from The House of Abhinandan Lodha (HoABL) for over Rs 10 crore and the transaction was registered late last week,” said one of the persons mentioned above.In January, the veteran actor purchased another land parcel in a 7-star mixed-use development of the developer to construct a house near the Shri Ram Janmabhoomi Temple in Ayodhya that was inaugurated recently.

The Bachchan family owns several properties including bungalows Jalsa, Prateeksha and Janak in Mumbai’s plush Juhu locality. Of these, Bachchan and his wife gifted their lavish bungalow, Prateeksha, to their daughter Shweta Nanda recently.

Several industrialists, corporate honchos, Bollywood and sports personalities have acquired properties in the picturesque coastal town of Alibaug resulting in an uptrend in prices.

Actress Suhana Khan, daughter of Bollywood star Shahrukh Khan, recently acquired a property in this sought-after beachfront locale among Mumbai’s wealthy and elite. This was the second such deal concluded by her in the last eight months. Last year too, Khan had purchased another land parcel spanning 1.5 acres in Alibaug.

Given its proximity to the country’s commercial capital, Alibaug has emerged as the new hotspot for celebrities and high-profile personalities.

Bollywood actors Ranveer Singh and Deepika Padukone also recently joined the ranks of investors in this region, alongside other prominent figures such as Sachin Tendulkar and Rohit Sharma. In 2022, cricketer Virat Kohli and his actress wife Anushka Sharma together acquired an 8-acre plot here.

The government’s initiatives aimed at improving connectivity between Mumbai and Alibaug are catalysing real estate development in the area, elevating its appeal among developers, homebuyers and investors.

Previously, limited connectivity hindered the growth of real estate in Alibaug. However, with various infrastructure projects underway, travel time is expected to decrease significantly, from over three hours to just over an hour.

Key infrastructure projects such as the Virar-Alibaug corridor, roll-on-roll-off (RORO) service from Mumbai, Mumbai Trans-Harbour Link (MTHL), widening of Mumbai-Goa Road and Vadkhal Alibaug Road, and Virar-Alibaug Multimodal Corridor are expected to stimulate development and investment in the region.

India’s luxury real estate segment has emerged as a driving force for the sector post-pandemic and continues to gather momentum. With the increasing number of high net worth individuals in the country and growing interest among non-resident Indians (NRIs) to invest in properties back home, the demand for high-end properties is on the rise.

SourceETREALTY
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