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In a remarkable real estate transaction, the legendary Mumbai bungalow that once belonged to Bollywood icon Dev Anand has been acquired by a prominent real estate company for a staggering sum exceeding Rs. 350 crore.
September 20, 2023: The bungalow, located in Mumbai, not only served as the actor’s residence, but also stood as a symbol of his illustrious career in the Indian film industry. The acquisition of this iconic property marks a pivotal moment in Mumbai’s evolving real estate landscape.
The legacy of Dev Anand
Dev Anand, a legendary figure in Indian cinema renowned for his charismatic screen presence and unforgettable performances in classic films, passed away in 2011. His Mumbai bungalow held immense historical and cultural significance, having been a cherished piece of Bollywood history where he spent many years as a star.
A turning point in Mumbai’s real estate
The sale of Dev Anand’s bungalow signifies a turning point in Mumbai’s real estate scene. With the city’s property market experiencing continuous growth and development, this transaction ranks among the most remarkable in recent memory. The bungalow’s elegant architecture and lush surroundings made it a prime piece of real estate in the city. The real estate company’s decision to acquire it at such a substantial price underscores the enduring appeal of properties with historical and cultural importance.
Future plans and possibilities
While specific details regarding the future plans for the bungalow remain undisclosed, there is anticipation regarding the real estate company’s considerations. These may include options like redevelopment or the preservation of its heritage value. The fate of this iconic property will be closely followed, as it holds a special place in the hearts of many as a symbol of Dev Anand’s achievements.
The changing landscape
Dev Anand’s Mumbai bungalow has been a residence for decades, but it is now set to undergo a transformation. Reports suggest that a 22-floor tower will replace the late legendary actor’s home. For 40 years, Dev Anand resided in this property with his wife Kalpana Kartik and their children, Suniel Anand and Devina Anand. The bungalow is located in a prime residential area that has housed notable industrialists, and it has been the former residence of stars like Madhuri Dixit and Dimple Kapadia.
Reasons behind the sale
The decision to sell the bungalow was primarily driven by a lack of caretakers for the house. Kalpana, Dev Anand’s wife, now resides in Ooty with their daughter, while their son Suniel is known to reside in the USA. In fact, their Panvel property was also sold for similar reasons in the past. Reportedly, the funds from the sale of Dev Anand’s studio a decade ago were used to purchase three apartments for Suniel, Devina, and Kalpana, respectively.
Dev Anand’s legacy as a legendary actor and his iconic Mumbai bungalow have left an indelible mark on Bollywood’s history. With the sale of this cherished property, a new chapter unfolds in its history, as it transitions under new ownership. As the bungalow transforms into a towering structure, it symbolizes the evolving landscape of Mumbai’s real estate, blending the past with the future while preserving the memory of an iconic actor.