Bollywood actor Janhvi Kapoor bought a property worth Rs 39 crore at Juhu in Mumbai, the latest name in a posse of celebrities and industrialists who have invested in real estate in India’s financial capital taking advantage of a cut in stamp duty.
Kapoor, 23, the daughter of the late actor Sridevi and film producer Boney Kapoor, took a home loan of Rs 23 crore from a bank to buy the property, showed the registration and loan documents Moneycontrol reviewed.
The carpet area of the triplex, spread across the 14th, 15th and 16th floors of a building called Araya Building, is 3,456 sq ft, according to the documents accessed by Zapkey.com .
The triplex is part of the Hatkesh CHSL Cooperative Society and is located in JVPD (Juhu Vile Parle Development Scheme) in Vile Parle West. It comes with six car parking spaces.
The sale deed was registered on December 7 and the home loan registration took place on December 10.
Kapoor paid a stamp duty of Rs 78 lakh for the apartment. The actor, who made her debut in the movie Dhadak, bought the property from a realtor named Anand Kamalnayan Pandit. She currently resides in Green Acre CHSL in Andheri West.
In October 2020, actor Hrithik Roshan bought two apartments, spread across three floors, worth Rs 100 crore in Mumbai’s Juhu-Versova Link Road. It had a private elevator and 10 parking slots. In November, actor Alia Bhatt had bought a 2,460 sq ft apartment in Bandra’s Pali Hill Vastu building for Rs 32 crore.
The stamp duty cut by the Maharashtra government, low interest rates, discounts offered by developers and the COVID-19 induced price correction has seen the Mumbai registrar’s coffers swell as homebuyers, including actors, actresses, bankers, brokers and industrialists made the most of the opportunity and came forward to buy property.
Properties worth Rs 34,000 crore were sold in Mumbai alone, many of them in the luxury segment, in December 2020.
On August 26, the Maharashtra government decided to temporarily reduce stamp duty on housing units from 5 percent to 2 percent until December 31, 2020, to boost the stagnant real estate market, which had been hit hard by COVID-19. Stamp duty from January 1, 2021, until March 31, 2021, will be 3 percent.
On January 6, the state government decided to approve the proposal to cut the premium on real estate projects by half till December 31, 2021. Developers availing of the scheme would have to pay full stamp duty and registration charges on behalf of homebuyers.