Bollywood actress Deepika Padukone and her husband Ranveer Singh bought a second home in Alibaug for $ 22.
The bungalow was owned by Rajesh Jaggi of The Everstone Group, sources said.
There was no response from the actor’s office.
According to Zapkey.com’s registration documents, the buyers are KA Enterprises LLP with Deepika Padukone partnering with RS Worldwide Entertainment Private Limited of which Ranveer Singh is the director.
The property was registered on September 13 and a fee of 1.32 crore was paid as a stamp, the document said.
The area is still spread over 2.25 hectares and has a built-in area of 18,000 sq ft. According to the registration document, the four sites have been merged into one global package.
The price of this bungalow operates at about Rs 12,000 per sq ft, sources said.
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The 5BHK floor-plus-first bungalow is located in a place called Satirje now also known as a billionaire road.
The particular bungalow is located in a village called Maapgaon and is located 10 minutes from Kihim Beach, sources said, adding that Coastal Regulation Zone practices do not apply to the area and hence the more developed area.
A few celebrities and businessmen have allies 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 and Falguni Nayar of Nyka and investor Deven Mehta among others, traders.
Bollywood actor Shahrukh Khan has a bungalow overlooking the Thal Sea, say vendors.
Alibaug bungalows are still distributed on one hectare to 10 hectares and prices range from $ 10 million to Rs 70 million, local retailers told Moneycontrol.
Roll on-roll off (Roro) -cum-passenger ferry service is available between Mumbai and Mandwa near Alibaug. It takes about 45 minutes to reach Alibaug from Mumbai. The boat was launched in 2020 and can accommodate 145 cars and about 500 passengers.
In Mumbai, Padukone and her husband own a 4BHK apartment in Prabhadevi, Mumbai.
Padukone and his father registered a contract to sell a service flat in Bangaluru on August 7, 2021, and the stamp duty was Rs 34.64 lakh, documents show.
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During the Covid-19 era, many people with high value (HNIs) in straight Mumbai bought buildings in Lonavla, Alibaug and nearby Karjat.
“Today, there are high-end buyers in the market who are looking for bungalows and plots,” said Ritesh Mehta, chief, Residential Property Sales, JLL.
“Buyers in Mumbai homes want second homes for Rs 2 crore to Rs 50 crore which is just 90 minutes by car from the big city. The idea is to reach Mumbai as soon as there is an emergency,” he said. .
The challenge these days is that there are limited international parcels in the second home sector that move prices up to places like Alibaug and Lonavla, he said.
A study by Savills India has also shown that as the COVID-19 epidemic appears to have led to a number of real estate redundancies and widespread acceptance of work from anywhere, the demand for second homes has increased. Seventy percent of respondents want to invest in a second home that sells for Rs 2 crore or less in two years, says a study by Savills India, a company that negotiates real estate among potential buyers.
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About three-quarters of potential buyers would prefer a second home in areas such as Dehradun, Nainital, Shimla, Goa, Alibaug, Lonavala, Mahabaleshwar, Coorg, Ooty and Wayanad, the study said.
29% of respondents would like to invest in four popular residential areas of Maharashtra and 65 percent of the demand is less than R2 million. Total production of Maharashtra buildings was between 4-6 percent, the study said.