Bollywood actor Kajol Devgan has purchased commercial retail space spread over 4,365 sq ft on the ground floor of a residential tower in Mumbai’s western suburb of Goregaon for over Rs 28.78 crore.
The deal registered on March 6 values the commercial space at Rs 65,940 per sq ft. The purchase reflects a trend among high-net-worth individuals and celebrities investing in commercial real estate for stable rental yields and long-term capital appreciation.
The transaction also includes stamp duty charges of approximately Rs 1.72 crore, and the agreement grants Kajol Devgan exclusive access to four designated car parking spaces, showed the documents accessed through IndexTap.com.
ET’s email query to Kajol remained unanswered.
Real estate continues to stand out as a preferred choice for investments among high-net-worth individuals. Bollywood figures are actively acquiring properties, not just for personal use, but also as lucrative investment ventures.
In August 2023, Kajol had purchased an office space spread over nearly 2,100 sq ft in a commercial project in Oshiwara locality of Mumbai’s Andheri suburb for Rs 7.64 crore.
Prior to that, her husband and actor Ajay Devgan also purchased five office properties for Rs 45 crore in the same building in April 2023. All these five properties were spread over 13,293 sq ft across two floors of the tower.
