While Bollywood stars have been in the news for buying apartments across several luxury projects in Mumbai, there are several real estate developers who prefer selling their luxury flats to industrialists or high net worth individuals (HNIs) from non-Bollywood background, boutique developers HT.com spoke to said. According to developers of two boutique luxury real estate projects, HNIs often purchase apartments priced at ₹ 50 crore and above where they expect privacy and do not want the building to be in the limelight.
Several HNIs comprising industrialists, CEOs or CXOs prefer apartments in luxury buildings but not a project which is known to house Bollywood stars, experts said. Also Read: From Karishma Kapoor to Amitabh Bachchan, here’s why Bollywood stars prefer to invest in commercial properties Are Bollywood stars the last priority for developers of boutique luxury projects? A developer of a luxury project in Central Mumbai told HT that often Bollywood stars add to the ‘disturbance quotient’ in a housing project where several high net worth individuals reside. "I am constructing 12 luxury apartments with sea-facing views and the ticket size is anything between ₹ 50 crore to more than ₹ 100 crore in case of duplex and triplex units.
The clients that I am targeting are those who want privacy. These people prefer to reside with like-minded people in the housing society," a developer not wishing to be named told HT.com "If I sell one of my apartments to a Bollywo.
