John Abraham snaps up Rs 75 cr bungalow in Mumbai

Mumbai: Bollywood actor and producer John Abraham has snapped up a luxury property in the tony Khar area of the megapolis for over Rs 75 crore, according to sources.

The 51-year-old actor-producer who is also an astute investor in many realty projects and companies apart from being a sports enthusiast, lives in a sea-facing penthouse on the Hiten Apartments on the Shirley Rajan Road in Bandra West.

Both the actor and his company JA Entertainment did not respond to calls and text messages from PTI.

The property, a 13,138 sqft bungalow in the Khar area, has been snapped up for around Rs 75 crore and has the potential for redevelopment.

The property was owned by 81-year-old Pravin Nathalal Shah, who is now a resident of Pennsylvania in the US, and his 10-member family, and includes an open land area of 7,722 sqft and a two-story 5,416 sqft bungalow named Nirmal Bhuvan on the 372, Linking Road, Khar West, according to property consultant Indextaps.com.

According to the broker, Abraham paid Rs 70.83 crore to the seller and Rs 4.25 crore in stamp duties to the BMC on December 27.

The Linking Road is rated the third most popular high street retail in the country after Bengaluru's MG Road. Khar's residential realty commands a price ranging between Rs 40,000-90,000 per sqft.

Abraham registered the agreement with 10 members of the Shah family, according to Indextap.com.

The 51-year-old star is known to be a keen property investor as also in some companies. Abraham has an array of projects in the pipeline, including The Diplomat, Tehran, Tariq and Vedaa, according to film industry grape-wine.

Abraham is said to have invested in many companies spanning online, food and beverages, community, fitness and lifestyle apart from real estate.

He also owns two sports teams: the Guwahati-based Northeast United which is a professional soccer team in the Indian Super League, and the Delhi Waveriders which is a professional hockey team that plays in the Indian Hockey League.