[ad_1]
veteran actor Jitendra opens up about his remarkable journey from Bollywood to real estate, revealing how a modest investment decades ago in Mumbai’s Pali Hill eventually became his biggest success story. The actor also shared how his daughter Ekta KapoorHis desire to buy his first home changed his approach to property investing and why he believes that “every property has a destiny.”
5.25 lakh bungalow to Rs 450 crore property
Looking back at his family’s first big real estate purchase, Jeetendra revealed that they bought legendary actor Bharat Bhushan’s Pali Hill bungalow for just Rs 5.25 lakh.“We bought that Pali Hill bungalow for Rs 5.25 lakh. The surprising thing is that the land measures 3,450 square meters.” We shifted there, and already had a bungalow on the plot,” he recalled while talking to Realty Drive.The property was located near Gautam Apartments in Pali Hill, where Jitendra later built a residential building himself.“Later I constructed that building myself and sold flats at Rs 85 per sq ft,” he said.Asked how much the same land would be worth today, the veteran actor estimated, “I think it would easily be worth Rs 400-450 crore today.”
how unity Buying Kapoor’s first home changed everything
Jeetendra revealed that his daughter Ekta Kapoor’s desire to become financially independent became another turning point in her real estate journey.“One day Ekta came to me. She was doing well in her career and wanted to be independent. She said, ‘Dad, I want to buy my own flat.’The actor soon realized that property sizes were not always what they were advertised to be.“He liked a flat that was being sold as 3,000 square feet. I asked the seller, ‘What is the actual area?’ He replied, ‘The actual carpet area is 1,700 square feet, but the super built-up is 3,000.’ In those days, even kitchen platforms and similar spaces were included in the super built-up area,” he said.
The Juhu land deal that almost fell apart
Jitendra then narrated how a chance meeting led him to buy a plot in Juhu that would later become the family’s iconic Ekta House.“A man who owns land in Juhu approached me and said, ‘You are looking for a house. Won’t you buy my plot?’ He wanted to sell because he was getting unwanted phone calls from Dubai when people started saying he was building a bungalow.”He bought the plot for Rs 4.25 crore before deciding to buy the neighboring property.However, after accepting a token payment of Rs 10 lakh, the owner backed out of the deal as property prices had skyrocketed.“I went to my lawyer. He’s still my lawyer today – a wonderful man. He asked me, ‘Do you have proof?’ I said, ‘Yes. I paid Rs 10 lakh by cheque, and he cashed it.’ He immediately said, ‘Go and tell him that he will not have that land until you are alive.’Finally, both parties negotiated a revised price.“I agreed to pay a little more, and I finally got the property. Fortunately, both plots became one large parcel of land, giving us a much larger compound. If I had only one plot, even a proper driveway would not have been possible.”
‘You don’t choose the land, the land chooses you’
Reflecting on decades of investing, Jitendra said real estate is often driven by luck rather than planning.“Every contract has a story. Destiny plays a very important role. No one is so wise that they alone decide upon great estates.”Making a spiritual comparison, he added, “Just as people say you don’t go to Shirdi until Sai Baba calls you, I believe the land is the same. You don’t choose the land – the land chooses you.”He said his investments gradually expanded from Meera Road to Pune and Powai.“After that I bought land in Meera Road for a studio, later plots in Pune, and finally property in Powai where we built the data centre, partly in partnership with Mr. Hiranandani. This is how an actor gradually becomes a producer.”
‘We do nothing without Vastu’
Asked if Vastu played a role in his development, Jitendra admits that he follows it closely but does not believe it overrides destiny.“We don’t do anything without Vastu. But let’s say one thing – everything has a remedy except superstition.”“If you believe in Vastu, it gives you confidence. You feel strong because you have done what you think is right. It is like praying to God – you feel that you have put your will before Him. But in the end, what’s going to happen will happen.”
how Balaji Telefilm Found his house
Jeetendra also revealed that one of his biggest construction projects turned out to be the headquarters of Balaji Telefilms almost by accident.“My last film was around 1996. By then, the film industry was going through a rough patch due to video piracy.”Believing his acting career was winding down, he turned his attention to real estate.“At the same time, Ekta Balaji started Telefilms. I had already built the building where Balaji’s office is today.”Interestingly, the building initially failed to attract buyers.“When I built that property, my construction cost was around Rs 2,800 per sq ft, while the market price was around Rs 2,600 per sq ft. So I couldn’t sell it. Luckily, Ektar’s company shut down, he needed office space and Balaji moved into that building. That’s how it all came together. I had no idea it would be so successful.”
‘Sharks spare no one’
Despite being one of Bollywood’s biggest stars, Jeetendra said celebrity status never gave him any advantage in property deals.“It doesn’t make things any easier. Sharks spare no one.”Recalling another big investment, he says, “I bought a 12-acre property. Initially, it was for an old-age home. But the land was tied up in litigation. It took me seven to eight years to clear all the legal issues and during that time my investment almost tripled.”His investment eventually grew from around Rs 8 crore to around Rs 21 crore before the property multiplied significantly in value.“In the end, good land rewards you. There was nothing around when I first bought it. Just look at the area today.”
Bollywood Vs Real Estate
When asked about the biggest difference between acting and real estate, Jeetendra gives a simple but telling answer.“People come to see you as an actor. In real estate I have to go to people.”He also noted that the business comes with its own uncertainties.“Real estate also has uncertainty. Governments can change laws midway. Regulations can change. New restrictions can come in.”For Jitendra, however, success is not measured by profits alone.“Profit is not just about making money. When customers willingly pay for your project, it means they appreciate your work. Nobody pays you for free – you earn it either by force or by giving something of value. I’d rather earn it by doing good work.”
[ad_2]
Source link
