Sonu Nigam Sells Andheri West Property For ₹7 Crore

Bollywood celebrities are increasingly turning to commercial real estate as a lucrative investment opportunity. Notably, playback singer Sonu Nigam has recently sold a commercial property in Mumbai for ₹7 crore. The property, located in Andheri West, spans 2,131 sq ft and was sold at a rate of ₹32,848 per sq ft. The transaction was officially recorded on June 28, 2024.

Sonu Nigam’s father, Agam Kumar Nigam, also made headlines earlier this year with the purchase of a 2,022.88 sq ft property in the same area for ₹12 crore. The acquisition involved a stamp duty of ₹72 lakh.

In addition, Sonu Nigam himself had previously bought two commercial properties in Andheri West in April of last year for ₹11.37 crore, covering a total area of 5,547 sq ft.

Other Bollywood stars, including Karishma Kapoor, Ajay Devgn, and Amitabh Bachchan, have also invested in commercial properties to capitalize on high rental yields. For instance, Karishma Kapoor rented out a 2,199 sq ft commercial space in Grandbay, Bandra West, for ₹5 lakh per month starting November last year. Similarly, Ajay Devgn leased an office space in Andheri West for ₹9 lakh per month for a five-year term.

The trend among these celebrities highlights a broader interest in commercial real estate, which often provides higher returns on investment compared to residential properties.