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Actress Suhana Khan, the daughter of Bollywood actor Shahrukh Khan, has made news yet again for her recent purchase of a home in Alibaug, a popular beachside destination among Mumbai's elite circles. The transaction, which totalled more than INR 10 crore including stamp duty expenses, is her second major investment in the area within just 8 months.
The property has three distinct structures on a land parcel spanning nearly 1.8 acres. These structures have carpet areas of 1,218 sq. ft, 196 sq. ft, and 120 sq. ft, respectively, adding to Suhana Khan's real estate portfolio.
This transaction, finalised on February 12th, saw Suhana Khan paying a stamp duty of INR 57 lakh for the registration, as revealed by documents accessed through IndexTap.com. This aspect sheds light on the financial commitment associated with such high-value property transactions, showing the significance of stamp duty in real estate dealings.
Apart from investing in real estate, Suhana Khan was recently named as a brand ambassador of a renowned cosmetic brand named Maybelline New York. Simultaneously she also starred in a film project named ‘The Archies’.
In a similar arrangement, Bollywood stars Deepika Padukone and Ranveer Singh purchased a beautiful bungalow for themselves in Alibaug in 2021. According to the registration record, the property is spread across 2.25 acres and has a built-up space of approximately 18,000 square feet. The 5 BHK home has two floors: ground and first. According to accounts, it is located in the Satirje neighbourhood, around ten minutes from Kihim Beach.
Juhi Chawla also bought a land parcel for INR 1.89 crore in 2021 end, The property spread across .3060 hectares (0.75 acres) is located in Mapgaun. A stamp duty of INR 11.34 lakh was paid by her.
Lastly, in 2022, Virat Kohli and Anushka Sharma jointly purchased 8 acres of land in Alibaug for INR 19.24 crore in two separate transactions. Two land portions were registered, the first measuring 2.54 acres and the second measuring 4.91 acres. They paid a stamp duty of INR 1.15 crore.
These recent investments made by famous Bollywood stars demonstrate Alibaug's growing popularity as a hideaway for the wealthy and famous.
The attractiveness of Alibaug is heightened by government measures targeted at improving the connection between Mumbai and the coastal town. Infrastructure projects such as the Virar-Alibaug corridor, the Roll-on-Roll-off (RORO) service, and the Mumbai Trans-Harbour Link (MTHL) have the potential to revolutionise travel dynamics by shortening transit times and accelerating real estate development in the region.
The rise in activity is consistent with the larger trend in India's luxury real estate category, which has emerged as a driving force in the sector following the epidemic. With a growing number of high-net-worth individuals and increased interest among Non-Resident Indians (NRIs) in investing back home, demand for premium homes is on the rise, demonstrating the real estate market's durability and dynamism in the face of changing economic landscapes.
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