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Well-known Bollywood singer Kailash Kher, who has made a special mark for himself all over the world with his unique Sufi singing style, has taken a big financial step in the real estate market. Kailash Kher, who has ruled millions of hearts with his magical voice in the world of music, has come into the center of discussions these days due to his singing as well as a wonderful property deal. He has sold his luxurious office space located in Bandra-Kurla Complex i.e. BKC, considered to be the most expensive and posh commercial hub of the country’s financial capital Mumbai. The special thing is that he had included this commercial property in his investment portfolio just 10 months ago and now by selling it, he has made a big change in this business worth crores of rupees in one lump sum. Ever since this high-profile deal hit the market, it has become a topic of discussion among the real estate sector and their fans as to what was the reason behind selling this property in such a short time and how much financial gain or benefit they have gained from this transaction.
According to official documents and registration details revealed by Property Bazaar and real estate data analytics platform, singer Kailash Kher had purchased this commercial unit in the famous ‘Trade Center’ building located in Mumbai’s highly prestigious Bandra Kurla Complex. This commercial property was located on the seventh floor of the building, which is in the prime area, just opposite the MTNL building. The total carpet area of this luxurious office space was approximately 2,619 square feet (sq ft), which is considered to be a very prime location for corporate offices and business activities. The buyer was also given the facility of a dedicated car parking space with this unit. The availability of such premium properties in a metropolis like Mumbai and their ease of sale is proof that investor confidence in corporate real estate is still intact, especially when the property is located in a high-end commercial zone like BKC where big companies and financial institutions from India and abroad make their bases.
If we look at the financial data of this entire property transaction, then this deal looks very interesting from investment point of view. According to reports, singer Kailash Kher had purchased this commercial office space in the month of November last year at a huge cost of around Rs 10.50 crore. Subsequently, keeping in mind the market conditions and their business strategic plans, they did not hold the property for long and decided to sell it within about 10 months. This property deal was fully registered on September 9 this year, which has been purchased by a company named ‘Lakewater Retail Private Limited’. Under this latest deal, this commercial office has been sold for a total of Rs 10.75 crore. If seen in this way, there is a difference of about Rs 25 lakh between the purchase price and the sale price, regarding which in the initial discussions it is being said that he has made a profit of so many lakhs in this short term investment.
Ever since this news spread in the media and market, people are speculating that Kailash Kher earned Rs 25 lakh without any hard work in just 10 months, but financial experts and real estate experts believe that the reality is a little different from this. Whenever a large commercial property of this level is bought or sold, there are a number of additional legal and government costs involved. During this deal itself, a huge payment of around Rs 64.50 lakh has been made in the form of stamp duty alone. Apart from this, if the registration fees, legal fees, brokerage, taxes and other transaction costs related to the purchase and sale of property are added to the total purchase price, then it becomes clear that this difference of Rs 25 lakh visible on paper cannot be called their actual and pure net profit. Despite this, transferring such a large commercial asset to the right buyer in a short period of time and restructuring the portfolio certainly shows the wisdom of a seasoned investor.
This property deal of Kailash Kher is another latest example of the fact that the famous personalities of Bollywood and entertainment world are no longer limited to earning only from films or songs, but they are investing their hard-earned money on a large scale in the real estate of the country, the safest and high-return area i.e. Mumbai. Bandra-Kurla Complex (BKC) has over the years become a major investment hub not only for corporate houses but also for film stars and famous artistes. Even before this, many big artists have bought and sold millionaire properties in this area. Overall, this step of Kailash Kher to sell his commercial property may seem like a small business decision, but it has become a big topic of discussion these days in the glamorous and expensive property market of Mumbai, which shows how much more professional and cautious celebrities have become about the management of their properties.