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Nawab of Bollywood and veteran actor Saif Ali Khan has achieved handsome returns by selling his 19-year-old premium residential property located in Bandra West, one of the most prestigious and expensive residential areas of Mumbai. According to the official property registration documents accessed by real estate data analytics platform ‘CRE Matrix’, Saif Ali Khan Pataudi has sold a 797 sq ft (carpet area) apartment located in ‘Hi-Cons Residency’ building in Bandra West for a total of ₹4.11 crore. According to the documents, the formal sale deed of this deal has been executed and registered in the month of October, on which the buyer has paid stamp duty of ₹24.66 lakh. The most noteworthy thing about this sale is that the deal has been done at a price almost 1.4 times (1.4x Premium) more than the official ready reckoner rate (circle rate) set by the Government of Maharashtra, which clearly reflects the ever-increasing resale demand and celebrity premium in the luxury micro-market of Bandra West.
The story of purchase and profit of this property is almost two decades old. According to official registration records, Saif Ali Khan purchased a spacious penthouse/apartment with approximately 6,000 sq ft carpet area spread over the two upper floors of Hi-Cons Residency from builder ‘Hi-Con Constructions’ on March 30, 2007 for ₹9.7 crore. That original deal also included parking spaces.
Nearly seven years later, on June 19, 2014, the massive 6,000-square-foot unit was formally and legally split into three separate independent apartments:
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First flat: Approximately 2,997 sq. ft. carpet area on ground floor.
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Second flat: Approximately 2,205 sq. ft. carpet area on the same floor.
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Third flat: located on the upper floor approx. 797 sq ft carpet area.
Now Saif Ali Khan has successfully sold this third 797 square feet flat for ₹4.11 crore. If the pro rata share is compared to the original acquisition price of 2007 (approximately ₹16,100 per square foot), then the cost of this 797 square foot portion was approximately ₹1.28 crore. Today this portion has been sold for ₹4.11 crore, meaning that on this portion alone, Saif has got direct capital appreciation of more than three times the original cost, while the remaining huge portion of over 5,200 square feet is still safe in his portfolio.
According to Mumbai real estate market analysts, the price per square foot in this deal is around ₹51,568 per square foot (carpet area) Has been registered. The minimum ready reckoner (RR) rate fixed by the Town Planning and Registration Department of the Government of Maharashtra for this respective village/zone of Bandra West is estimated to be around ₹36,000 to ₹37,000 per square foot.
When the actual transaction in the market is more than the government circle rate, it is called ‘Premium on Ready Reckoner’. This deal of ₹ 51,500 per square foot has been executed at a premium of 1.4 times i.e. 40% over the government base rate. Property consultants say that despite being old buildings, buildings located in prime locations like Bandra have very strong redevelopment potential, due to which investors and end-users do not hesitate to pay a premium for celebrity-owned properties.
Saif Ali Khan is not only an expert in capitalizing on residential properties, but he is also known to be a savvy investor in the commercial real estate segment of Mumbai. Some time back, registration documents had revealed that Saif has given two of his premium commercial office spaces in ‘Kanakia Wallstreet’ business hub located on Andheri-Kurla Road on a 5-year lease.
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Area of Commercial Space: 5,692 sq ft rare carpet area.
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Tenant: Durva Fintech Pvt Ltd.
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monthly rent: ₹22.76 lakh per month (i.e. regular rental yield of ₹2.73 crore per annum).
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Lease period: Five-year agreement from 10 May 2026 to 9 May 2031.
Thus, while on one hand Saif Ali Khan is liquidating his capital by recovering profits from old residential assets, on the other hand he is continuously generating huge cash-flow from high-yield commercial properties.
The real estate portfolio of the ‘Nawab’ of Bollywood is counted among the richest actors of the country:
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Satguru Sharan (Satguru Sharan, Bandra): Currently Saif Ali Khan lives with his wife Kareena Kapoor Khan and two sons (Taimur and Jeh) in Satguru Sharan Apartment in Bandra. Spread over four floors, this lavish penthouse is over 6,500 sq ft, which he purchased from Satguru Builders in 2012 for ₹23.50 crore and is currently valued at over ₹40 crore.
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Fortune Heights: Before shifting to Satguru Sharan, Saif and Kareena lived in this building, where they have several flats and a large part of the terrace. Apart from this, in April 2016, he had purchased an additional 950 square feet flat here for ₹7 crore.
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Pataudi Palace (Pataudi Palace, Haryana): His ancestral palace ‘Ibrahim Kothi’ located in Pataudi, Gurugram is spread over 10 acres, whose historical and market value is believed to be more than ₹800 crore.
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International Property (Gstaad, Switzerland): Saif also has a luxurious holiday bungalow in Europe’s luxury snowy resort town Gstaad, which is estimated to be worth around ₹ 33 crore.
This successful sale of a small portion of a 19-year-old property has once again proved that Mumbai’s prime real estate market with the right location and long holding period always offers investors unmatched wealth creation opportunities.