Kajol sells Powai apartment for 3.1 crore

Bollywood actress Kajol has sold her apartment in Hiranandani Gardens, Powai, for ₹3.1 crore. The property, located on the 21st floor of the Atlantis Co-operative Housing Society Limited, spans 762 sq ft and includes two stack car parking spaces. The transaction was registered on March 20, with buyers Vrushali Rajnish Rane and Rajnish Vishvnath Rane acquiring the apartment. The sale price translates to approximately ₹40,682 per sq ft based on the RERA carpet area.Kajol’s decision to sell this property reflects a trend among Bollywood celebrities who are restructuring their real estate portfolios.

Many stars are shifting their investments from residential to commercial properties to maximise returns. Powai, once primarily a residential hub, has now become a sought-after location for professionals and investors due to its proximity to business districts and strong infrastructure development.This sale comes after Kajol’s recent high-value investments in Mumbai’s commercial real estate market. Earlier this month, she purchased a 4,365 sq ft retail space in Goregaon West for ₹28.78 crore from Bharat Realty Ventures Pvt Ltd. This move suggests a strategic realignment of her assets, focusing on commercial ventures that offer long-term value. Kajol had also invested ₹7.64 crore last year in an office space in Andheri West’s Signature Building, located along Veera Desai Road, further highlighting her interest in commercial properties.Kajol’s husband, Bollywood actor and director Ajay Devgn, has also been actively involved in Mumbai’s property market. In 2024, he leased out a 3,455 sq ft commercial office space in Mumbai for a monthly rent of ₹7 lakh. This indicates a broader trend where Bollywood personalities are increasingly investing in commercial real estate, which is seen as a stable and profitable asset class.

Powai’s real estate market has remained attractive due to its mix of luxury residences, corporate offices, and educational institutions. Over the years, the area has developed into a self-sustaining township with high-end residential towers, retail spaces, and a strong commercial presence. The Hiranandani Gardens complex, where Kajol’s apartment was located, is particularly well-known for its premium properties and urban lifestyle offerings.Experts believe that Bollywood’s growing interest in commercial real estate is influenced by the sector’s steady growth and rental income potential. Unlike residential properties, commercial spaces often yield higher and more consistent returns. Additionally, with Mumbai evolving into a business and financial hub, prime commercial locations such as Goregaon, Andheri, and Powai have gained significant traction among investors.Kajol’s decision to invest in commercial spaces aligns with a larger market trend where high-net-worth individuals are diversifying their portfolios. With rising property prices and demand for premium office spaces, real estate experts suggest that the shift from residential to commercial assets could prove to be a financially rewarding strategy in the long run.

While Kajol has exited her Powai residence, her investments indicate a calculated approach to real estate management. By focusing on commercial properties in prime locations, she is not only securing long-term returns but also leveraging Mumbai’s expanding business infrastructure. As the city continues to evolve, Bollywood’s real estate moves are likely to shape future market trends, making Mumbai an even more dynamic hub for property investments.

Kajol sells Powai apartment for 3.1 crore