Kangana Ranaut Sells Pali Hill Row House for Rs 32 Crore

Kangana Ranaut Sells Pali Hill Row House for Rs 32 Crore

Kangana Ranaut Sells Pali Hill Row House for Rs 32 Crore

Bollywood actor and BJP MP Kangana Ranaut has sold her row house in Mumbai’s upscale Pali Hill for Rs 32 crore, four years after it was embroiled in a legal dispute with the Brihanmumbai Municipal Corporation (BMC). The 3,075 sq ft property, located on Nargis Dutt Road in Bandra (West), was purchased by Kamalini Holdings. The sale agreement, registered last week, includes one parking slot, with the new owner paying a stamp duty of Rs 1.9 crore.

Ranaut originally bought the property for Rs 20 crore in 2017. During the COVID-19 lockdown in September 2020, the BMC issued a notice accusing her of unauthorized alterations and construction within the premises, claiming the row house had been converted into an office. The BMC listed alleged illegal modifications, including the addition of a toilet, kitchen, pantry, and the inclusion of a balcony on the second floor.

The BMC's notice led to the demolition of parts of the structure, prompting Ranaut to seek legal recourse. The Bombay High Court ruled in her favor, stating that the BMC's actions were driven by malice and ordered compensation for the damages. The court also granted Ranaut the right to restore her property and make it habitable again.

Despite the legal challenges, Ranaut has now exited the property, completing the sale for Rs 32 crore, marking a substantial profit from her initial investment.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

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