Bollywood Real Estate: Akshay Kumar's Sister Alka Bhatia Buys Two Luxury Flats in Mumbai’s Juhu Area for ₹72 Crore

Bollywood star Akshay Kumar's sister, Alka Bhatia Hiranandani, has made waves in Mumbai’s real estate market by purchasing two luxury flats in the upscale Juhu area for a total of ₹72 crore. The deal is one of the biggest in recent times and highlights the continuous interest in Mumbai's prime residential properties. Alka, who is married to real estate tycoon Surendra Hiranandani, bought the flats in the prestigious Prime Beach CHSL on Gandhigram Road, Juhu—a locality renowned for its exclusivity and celebrity residents.

According to property documents accessed by Zapkey, Alka purchased one flat on the fifth floor for ₹45 crore and another on the sixth floor for ₹27 crore. These flats, together, span a built-up area of approximately 5,240 square feet. The per-square-foot cost for the flats is about ₹1.37 lakh, marking them as premium real estate in the heart of Mumbai. What adds further value to the transaction is the inclusion of 10 parking spaces, a significant asset in a city where parking is a major issue.

Interestingly, Akshay Kumar also owns a sea-facing duplex in the same building, making Prime Beach a favored property for the Kumar family. Juhu has long been a preferred location for Bollywood celebrities and high-profile businesspeople, offering not just luxury living, but also proximity to Mumbai's film studios and other commercial hubs. 

Bollywood celebrities have historically played a significant role in Mumbai’s luxury real estate market, and Alka Bhatia’s acquisition adds to the growing list of high-profile deals. Prominent figures from the film industry often invest in top-tier properties, drawn to areas like Juhu, Bandra, and South Mumbai. Juhu, in particular, remains a coveted residential zone due to its proximity to both the sea and Mumbai’s bustling film industry. The neighborhood is home to other Bollywood stars like Amitabh Bachchan, Hrithik Roshan, and Anil Kapoor, further enhancing its allure.

Despite global economic uncertainties, Mumbai’s luxury real estate sector continues to thrive. Even during times when the broader real estate market faces challenges, the demand for premium properties in Mumbai remains strong. Limited availability of land in prime locations, coupled with a consistent demand from high-net-worth individuals, has kept prices in the luxury segment buoyant. The recent rise in average housing prices across India’s top cities reflects this trend, with Mumbai leading the charge.

Real estate experts attribute this resilience to the city's unique position as both a financial and entertainment hub. There’s always demand for homes in prime locations, and areas like Juhu offer a lifestyle that few other parts of Mumbai can match. During the festive season, especially, high-end transactions tend to increase as individuals look to invest in premium properties.

Alka Bhatia’s purchase also brings to mind other high-profile real estate transactions in Juhu. Earlier this year, actor Kartik Aaryan rented his apartment in Mumbai for ₹4.5 lakh a month, and the promoters of Macleods Pharmaceuticals purchased a bungalow in the same area for ₹101 crore. These deals reflect the consistent demand for luxury real estate in Juhu, where prices continue to rise as the area’s desirability grows.

For Alka, the purchase also carries a personal connection, given her brother Akshay Kumar’s ownership in the same building. It’s likely the family connection to the area played a part in the decision. But beyond the personal aspect, this acquisition is also a strategic investment, given the value and potential appreciation of properties in Juhu. Being married to one of India’s leading real estate developers, Alka’s decision to invest in such a prime property could also be viewed as part of a larger real estate strategy.

Mumbai's luxury real estate market continues to attract attention, both locally and internationally. Despite economic fluctuations, the market has demonstrated a remarkable ability to recover and grow. With international investors showing interest and domestic demand remaining robust, the city’s high-end property sector is set to grow even further in the coming years. Alka Bhatia’s purchase is a testament to the strength of this market, particularly in exclusive areas like Juhu.