Salman Khan Sells Mumbai Apartment for ₹5 Crore After Earning Over ₹56 Lakh in Rent

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Bollywood actor Salman Khan has sold his residential apartment in Mumbai’s Bandra West for ₹5 crore, according to a report by the Indian Express. The actor had been renting out the property since 2020 and earned over ₹56 lakh in rental income before the sale.

The 1,265-square-foot apartment is located on the 14th floor of Shiv Asthan Heights on Bandra’s KC Road. It was reportedly purchased by a buyer named Babita Ashok Bhosale, with the transaction formalized on June 3, 2024. The registration documents show a stamp duty of ₹30 lakh paid on the deal.

According to data accessed by real estate platform Zapkey, Khan had been earning ₹1.5 lakh per month in rent from the unit. Over three years, this totaled more than ₹56 lakh. The consistent rental income reflects strong demand for high-end real estate in Mumbai’s western suburbs, especially in areas like Bandra that are popular among celebrities and high-net-worth individuals.

Salman Khan, who continues to reside in the nearby Galaxy Apartments with his family, has a history of property investments in the area. However, this sale marks a rare instance of him liquidating a real estate asset. The Bandra neighborhood remains one of the most premium residential areas in Mumbai, with limited inventory and consistently high prices.

The sale was executed amid rising interest in luxury real estate and a growing trend among celebrities monetizing high-value assets. Property consultants note that high-profile transactions like these often set benchmarks in Mumbai’s real estate market.

“This kind of high-value celebrity property sale reinforces market confidence and can influence property pricing trends in surrounding areas,” said a Mumbai-based property consultant who requested anonymity.

The buyer, Babita Ashok Bhosale, has not publicly commented on the purchase.

As property markets in urban centers continue to recover post-pandemic, experts are watching similar transactions closely for signs of shifting investment strategies among India’s wealthy individuals. Salman Khan’s move to sell while rental earnings were still strong may reflect a desire to rebalance or consolidate his real estate portfolio.

Further updates on similar real estate developments and celebrity-linked transactions are expected as market activity remains high in Mumbai’s prime residential zones.