The records state that the three agreements were registered on October 7. Additionally, Bachchan paid stamp duty of Rs 39.58 lakh for the transactions.
Bachchan Acquires Alibaug Plots
For a total of almost Rs 6.60 crore, renowned actor Amitabh Bachchan bought three plots in the House of Abhinandan Lodha (HoABL) development in Alibaug, close to Mumbai. According to registration records that CRE Matrix was able to get, the three plots total 9,557 square feet.
The records state that the three agreements were registered on October 7. Additionally, Bachchan paid stamp duty of Rs 39.58 lakh for the transactions.
Bachchan bought the plots at the Sol de Alibaug project, a 20-acre development that HoABL promoted as a five-star address encircled by hills and close to the Arabian Sea shore, according to the sources. HoABL estimates that a 2,000 square foot plot at the project would cost Rs 2.8 crore on its website.
Bachchan’s Expansive Real Estate Investments
Moneycontrol has contacted Amitabh Bachchan’s team and the House of Abhinandan Lodha for comment on the transaction; once they respond, the article will be updated.
Bachchan earlier paid Rs 12.42 crore for a 10,742 square foot block of land at HoABL’s Sarayu development in Ayodhya. In the last year alone, Bachchan and his son Abhishek have invested over Rs 100 crore in residential and commercial real estate with major developers like Oberoi Realty and Sri Lotus Developers, among others.
The emergence of Alibaug
Once a sleepy coastal town about two hours from Mumbai, the sea resort of Alibaug, headquarters of the Raigad district, has become a major attraction for numerous small and large developers as new infrastructure development, like the Atal Setu, and improvements to the ferry and roll-on-roll-off network bring the town and its surroundings closer to Mumbai.
The Hiranandani Group, Lodha Developers, and other prominent developers have also announced significant planned and villa development projects in addition to House of Abhinandan Lodha, with the goal of expanding the region beyond a destination for second homes or investment properties.
Alibaug Becomes Celebrity Property Hub
Some of these developers, like HoABL, have targeted high-net-worth people, such as senior executives from big firms and huge family offices, with their marketing campaigns.
Bachchan is among the many famous people who have bought property in and near Alibaug. Actors Kartik Aaryan and Kriti Sanon have also acquired property in HoABL’s Alibaug development.
Land prices have also increased as a result of this; non-agricultural land in the region is now selling for around Rs 8–9 crore. Local real estate agents estimate that land values are rising by 8–10% annually.