Bollywood icon Amitabh Bachchan has acquired a parcel of land in Alibaug, a coastal town near Mumbai, aiming to build a luxury villa in the renowned beachside area favored by affluent personalities. The transaction, valued at over Rs 10 crore, involved purchasing a quarter-acre plot from The House of Abhinandan Lodha. This acquisition follows Bachchan's recent investment in another property near the Shri Ram Janmabhoomi Temple in Ayodhya.
The Bachchan family already possesses several properties in Mumbai, including Jalsa, Prateeksha, and Janak bungalows in the upscale Juhu locality. Notably, they gifted their lavish Prateeksha bungalow to their daughter Shweta Nanda. Additionally, Bachchan leased out four office properties in Mumbai's Andheri suburb to Warner Music India last December.
This move by Bachchan reflects the ongoing trend of high-profile individuals, including Bollywood personalities, investing in real estate for both personal and investment purposes. Alibaug, with its scenic coastal charm and proximity to Mumbai, has become a sought-after destination for celebrities. Actress Suhana Khan, daughter of Shahrukh Khan, recently acquired her second property in Alibaug, joining other notable figures like Ranveer Singh, Deepika Padukone, Sachin Tendulkar, and Rohit Sharma in investing in the region.
Government initiatives aimed at enhancing connectivity between Mumbai and Alibaug, such as the Virar-Alibaug corridor and Mumbai Trans-Harbour Link, are further bolstering real estate development in the area. These infrastructure projects are expected to reduce travel time significantly, from over three hours to just over one hour, driving increased interest from developers, homebuyers, and investors alike.
India's luxury real estate sector is experiencing a surge in demand, fueled by high net worth individuals and NRIs looking to invest in upscale properties. The growing interest in luxury real estate, coupled with improved connectivity and infrastructure development, is propelling the growth of Alibaug as a premier destination for luxury living and investment.