Khans (Salman’s family) plan to build a hotel on a prime, sea-facing plot at Carter Road, Bandra.
Building plans approved by the BMC and accessed by this newspaper show a 19-storey hotel; the plot once housed the residential Starlet CHS, where the Khans had purchased apartments and had initially planned to redevelop the property into a residential building. However, the family seems to have changed their plans. The proposal to build a hotel was submitted over a year ago in the name of the actor’s mother, Salma Khan, who is shown as owner of the property.
The Khans’ architect, Sapre & Associates, submitted a revised amended plan under the city’s new Development Control & Promotion Regulation (DCPR-2034), for a “commercial centrally air-conditioned building with a height of 69.90 metres”.
It includes three-level basements, the first and second floors for a cafe and restaurant, the 3rd floor for a gymnasium and swimming pool, the 4th floor as a service floor, the 5th and 6th floors for the convention centre, and the 7th to 19th floors for hotel use.
Bollywood star Salman Khan’s family plans to develop a prime Carter Road plot into a multi-storey hotel. In 2011, Salman’s father, veteran scriptwriter Salim Khan, told that he buys properties all the time for his family, including his son (Salman).
There is no sign of construction on the family’s plot yet, though a building stands there which will have to go to make way for a hotel.
“Real Estate investment has always been the first choice for almost all celebrities including the film industry in India,” said Chetan D Narain, president & CEO of Narains Luxury Properties India. “It’s safe, secure and offers a sense of a very stable holding. While capital appreciation or rental returns may not be as high as equity or other investments it’s always been an aspirational choice,” he said. “The Bollywood fraternity has made some wise choices in the past and even recently for their financial stability by buying Grade A luxury properties,” said Narain.
After Khanna’s death, the bungalow was bequeathed to his daughters, who later sold it to an industrialist for a reported sum of Rs 90 crore in the year 2014.