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Bollywood superstar Salman Khan's family has decided to foray into the booming hospitality industry, with plans for a 19-story hotel in Bandra, Mumbai. With a revised design drafted by their architect, Sapre & Associates, and approved under the new Development Control & Promotion Regulation (DCPR-2034), the hotel is slated to be a prominent feature on Mumbai's skyline at an impressive height of 69.90 metres.
The bustling real estate market of Mumbai has been a lucrative investment zone for Bollywood's high rollers, and the Khan family is no exception. The prime, sea-facing plot at Carter Road, Bandra, previously hosted the residential Starlet CHS, which was acquired by the Khans with an initial intention to transform it into a residential complex. But a strategic pivot led to the plans of developing a sophisticated hotel, submitted over a year ago in the name of Salman Khan's mother, Salma Khan, the legal owner of the property.
The upcoming edifice is proposed to feature three basement levels, with the first and second floors earmarked for a café and restaurant. The third floor is designated for a wellness centre with a gymnasium and swimming pool. The service floor will be placed on the fourth level, while the fifth and sixth floors will host a convention centre. The remaining floors, from the seventh to the nineteenth, will accommodate the hotel suites.
Salman Khan's family isn't alone in Bollywood's real estate spree. Numerous stars, including action hero John Abraham, and actor Hrithik Roshan, with his father Rakesh, have made substantial investments in the city's property market. Raj Kapoor's legal heirs have also monetised his Chembur bungalow property for a hefty sum. Not to forget Ajay Devgn's acquisition of a sprawling bungalow at Juhu for a whopping Rs 47.5 crore.
Historically, the Indian film industry's key players have often invested in substantial properties since the industry's infancy in the 1940s and 1950s. Notable examples include Bollywood legends Dilip Kumar and Pran, who moved to Pali Hill, and superstar Rajesh Khanna, whose Carter Road bungalow, "Ashirwad," became a landmark, much like Shah Rukh Khan's current bungalow, "Mannat."
In conclusion, as Mumbai's real estate market continues to thrive, it's clear that Bollywood's stars are keen to capitalise on it. And with Salman Khan's family set to establish their mark in the hospitality industry, it opens a new chapter in the interweaving narrative of Bollywood and real estate investments.
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