Top 5 areas in Mumbai preferred by Bollywood celebs

“The City of Dreams”-Mumbai is the home of many celebrities. With the boom of movie businesses, big budget web series etc., many celebrities are shifting their base to Mumbai and therefore, want to invest in real estate. Resultantly, their investment focus remains on the promising localities of Mumbai where they can get promising high-class amenities.

Here are five posh locations in Mumbai preferred by the Bollywood celebs-

• Bandra– The property inventory here comprises high-end residential apartments. This coastal suburb has a stunning visual. Apart from big celebrities like Shahrukh Khan, Salman Khan, Kareena Kapoor, Saif Ali Khan, the new age celebs like Siddharth Malhotra, Ranveer Singh are also investing whooping amounts to buy their primary properties here. The annual price growth in Bandra is 7-8%. The average transaction rate in Bandra is around Rs 44,000 per sq ft.
• Juhu– Juhu is a high-end locality in Southwest Mumbai surrounded by prominent locations like Santacruz, Versova, Khar and Vile Parle. Recently Alia Bhatt, Janhavi Kapoor, Ajay Devgan, Anil Kapoor made headlines by buying swanky sea-facing properties in Juhu. This area witnesses 7% price appreciation every year. Linking Road sea-link, Malad-Andheri link road, Western Expressway ensures a smooth connectivity to Juhu. The upcoming Coastal Link Road is expected to enhance the connectivity further. The average price of these premium residential apartments is about Rs 41,550 per sq ft.
• Versova– Versova is a premium housing area with 3% price growth every year. Big shot celebrity like Nawazuddin Siddiqui recently built a 13, Nawab here. Other Celebrities like Sushmita Sen, Tabu, and Arshad Warsi, have also invested in properties here. Prominent developers Hiranandani Developers and Lotus Group have their residential projects in Versova. Average property price in this premium housing area is around Rs 27,000 per sq ft.
• Worli– One of the booming areas in Mumbai is Worli, offering a range of commercial establishments and premium apartments with diverse valuations. Off-late the robust infrastructure and high-rise properties drove celebrities like Virat Kohli, Anushka Sharma, Yuvraj Singh, and Shahid Kapoor here. This locality witnesses average 5-6% price growth every year. The average property price in Worli is approximately Rs 41,200 per sq ft.
• Andheri West– This area is catching eyeballs of many buyers because of the recent celebrity property purchase. In last few years many celebrities like Priyanka Chopra, Rajkumar Rao, Vicky Kaushal, Katrina Kaif, and Ayushmann Khurrana invested in this premium-housing hub. It is a popular micro market and keeps a steady growth 4% price growth every year. Property prices in this area average at around Rs 27,550 per sq ft.

In the coming years, more elite Bollywood celebrities are expected to increase their investment in lucrative propositions. Such investments not only help to diversify their portfolio but also help them to build market credibility and save on taxes.