AMITABH BACHCHAN BUYS LAND IN ALIBAUG FOR ₹10 CR. WHAT MAKES THE BEACH TOWN AN ATTRACTIVE REAL ESTATE DESTINATION?
Amitabh Bachchan has bought a 10,000 sq ft land parcel in Alibaug, near Mumbai, in Maharashtra, for ₹10 crore from The House of Abhinandan Lodha (HoABL), sources said, adding the transaction was registered last week.
Bachchan has bought the plot in a project called A Alibaug, a 20-acre plotted development in Alibaug that was launched in April last year, sources told HT Digital.
There was no response from the House of Abhinandan Lodha.
Earlier, Bachchan had bought a land parcel from the same builder in Ayodhya in its project The Sarayu which is a 7-star mixed-use enclave coming up in the temple town. Real estate industry sources had said that the plot where Bachchan intends to build a home measured around 10,000 square feet and was valued at ₹14.5 crore.
Also Read: House of Abhinandan Lodha launches 250 plots in Ayodhya at a starting price of ₹1.72 crore
Alibaug has, of late, emerged as a preferred real estate destination for high-net-worth individuals (HNIs) seeking luxury retreats and investment opportunities. Its proximity to Mumbai, coupled with well-developed infrastructure and coastal landscape, has fueled a surge in demand for premium properties in recent years.
Also Read: Amitabh Bachchan's next door bungalow up for sale. Reserve price set at ₹25 crore
In 2023, actor Amitabh Bachchan and his wife, Jaya Bachchan, had bequeathed Pratiksha bungalow, the first of the five family homes in Juhu, to their 49-year-old daughter Shweta Nanda as a gift. Pratiksha was the first bungalow in Juhu purchased by the couple shortly after the success of blockbuster Sholay released in 1975.
Also Read: Amitabh Bachchan has gifted one of his properties to his daughter but so can you
The other properties that the actor’s family owns in Juhu include Janak bungalow which is used more as an office, two other bungalows Vatsa and Ammu, part of which was leased to Citibank, and re-leased to State Bank of India in 2021.
In 2021, Bachchan also sold the Sopaan bungalow in Gulmohar Park in New Delhi for ₹23 crore to Avni Bader, CEO of Nezone group of companies. The 2.100 square feet house was registered in Teji Bachchan’s name and his parents lived in this house before they moved to Pratiksha.
Bollywood actors who have bought properties in Alibaug
Actor Shah Rukh Khan’s daughter Suhana Khan, who made her film debut with The Archies, had purchased a farm land in Thal village in Alibaug for ₹9.5 crore in February this year.
Also Read: Suhana Khan buys farmland in Alibaug for ₹9.5 crore
Last year she had invested in an agricultural land spread across an area of 1.5 acres with three structures on it in Alibaug in Raigad district for ₹12.91 crore.
Also Read: ‘Agriculturalist’ Suhana Khan, SRK's daughter, buys farmland in Alibaug for ₹12.91 crore
Suhana’s father Shah Rukh Khan also owns a sea-facing property in Thal, with a swimming pool and a helipad and loves hosting parties for his friends from Bollywood.
Several celebrities and industrialists have bungalows in Alibaug such as Navin Agarwal of Vedanta Resources, Gautam Singhania of Raymonds, Prakash Mody of Unichem Labs Ltd, Salil Parekh of Infosys, Sanjay Nayar of KKR, Falguni Nayar of Nyka and equity investor Deven Mehta, brokers said.
Coastal villages in Alibaug have been popular destinations with a number of celebrities and corporate honchos for vacation homes.
In February 2023, Anushka Sharma-Virat Kohli purchased a 2,000 sq ft villa in Avas Living, a luxury bungalow project by Aditya Kilachand in Awas Village, for ₹6 crore. In September 2022, the couple purchased a 3,350 sq m (36,059 sq ft) farmhouse in Zirad village for ₹19.24 crore. In 2021, Rohit Sharma had also purchased four acres of land in Mhatroli village in the same region.
Also Read: Kohli buys 2,000 sq ft villa in Alibaug for ₹6 crore
An investment opportunity?
Connectivity to Alibaug improved after Ro-Ro and speed boats connected Mumbai to Alibaug. The Mumbai Trans Harbour Link sea bridge connecting Sewri to Nhava Sheva has also further improved road connectivity to Alibaug.
Also Read: Mumbai Coastal Road inaugurated: Here’s how it will impact real estate demand and prices
Industry reports suggest that Alibaug anticipates an investment of approximately ₹3000 crore in the near future, with an estimated 250 acre of land likely to be developed in stages for the construction of integrated townships and luxury villas.
Also Read: Work on longest metro rail from Virar to Alibaug kicks off
“The government of Maharashtra is taking measures to enhance the infrastructure in Alibaug, encompassing areas like public transportation, waste management, and water supply. This also forms a part of the ambitious Alibaug Smart City Project. Over 40 developers from India’s residential and commercial real estate sector, financial institutions, along with potential buyers have invested in Alibaug,” said Ritesh Mehta, Senior Director and Head, West and North, Residential Services and Developer Initiatives, JLL.
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2024-04-22T07:51:37Z dg43tfdfdgfd