After binging on luxury homes, Bollywood stars join office party

From Kartik Aaryan and Saif Ali Khan to Hrithik Roshan and Kajol, film stars and their family members are buying and selling commercial properties in Mumbai, as well as leasing out space to companies. However, unlike the ₹100-crore homes that celebrities typically purchase, their office investments are smaller spaces, often located in standalone buildings in suburban areas of the financial capital.

Between 2024 and 2025, nearly 60 commercial property transactions, including outright purchases and leases, by Bollywood personalities have been registered, according to registration and stamp duty data compiled by online real estate marketplace Square Yards and shared with Mint.

After the Covid-19 pandemic, several actors and celebrity couples, including Amitabh Bachchan and son Abhishek, Janhvi Kapoor, Ranveer Singh and Deepika Padukone, splurged on multi-crore, sea-facing homes in prime locations for their own use and investments.

Bollywood celebrities have ramped up investments in commercial real estate, including office and retail spaces, seeking higher rental yields and long-term gains. In real estate, rental yield is the rate of return on investment.

Office properties in cities such as Mumbai typically assure a rental yield of 6-9% annually, along with periodic rent escalations, compared to 2-3% in residential properties.

The celebrities’ office investments mirror the growth in the segment.
Around 60 million sq ft of gross office leasing was clocked between January and September 2025, according to property advisory CBRE India, and is expected to surpass 80 million sq ft this year. In 2024, it was around 79 million sq ft, signalling a complete recovery from the pandemic-led slowdown in the office sector.

The Roshans lead the pack

Actor Kartik Aaryan has been one of the prolific commercial real estate investors in recent months.

In November, his parents, Mala Tiwari and Manish Tiwari, bought a 1,228 sq ft office in suburban Vile Parle for ₹10.83 crore, according to property registration documents accessed by Zapkey.

Earlier, in September, Aaryan, along with his parents, purchased an office space in Andheri West, Mumbai, for ₹13 crore, according to Square Yards.

Aaryan also bought a 2,000 sq ft plot worth ₹2 crore at Chateau de Alibaug, a project by The House of Abhinandan Lodha (HoABL), this year.

The Roshans, including actor Hrithik Roshan, his parents Rakesh and Pramila, and their company HRX Digitech LLP, have purchased multiple office spaces in 2024 and 2025.

They purchased three office units in Mumbai’s Chandivali area for ₹31 crore in July, according to property registration documents accessed by Propstack. Last year, the family entity bought five office units in the same building named Boomerang for ₹37.75 crore.

Elon Musk’s satellite internet company, Starlink, recently leased a 1,294 sq. ft. office on the ground floor of Boomerang, choosing Mumbai as its hub as it gears up to launch satellite broadband services.

Actor Kajol rented out a retail space in Mumbai’s Goregaon area to HDFC Bank for a total rent of ₹8.6 crore over a nine-year period. According to Square Yards registration data, she had purchased the property earlier this year for ₹28.78 crore.

Saif Ali Khan also invested in two office units in Andheri.

Spokespersons for Saif Ali Khan, Hrithik Roshan and Kartik Aaryan didn’t respond to queries. Mint couldn’t immediately reach out to Kajol.

Tax benefits

To be sure, Bollywood A-listers have selectively bought commercial properties in the past, but the momentum has spiked in the past couple of years.

“We are observing an increase in commercial real estate transactions by Bollywood celebrities largely because high-net-worth individuals view commercial properties as a way to diversify their investment portfolios beyond residential holdings and traditional financial assets,” said Deepak Khandelwal, principal partner and chief sales officer, Square Yards.

Many celebrities have chosen to acquire commercial space in key Mumbai micro-markets, including Andheri, Santacruz and Goregaon, to generate a steady income stream, as well as for potential tax and depreciation benefits that differ from those on residential investments, Khandelwal said.

Indian tax laws allow 10% depreciation on commercial assets, compared to 5% on residential properties, which can be deducted from the property’s value. This reduces taxable income.

While most transactions are investments, film production houses have also bought or leased commercial properties for their own use, according to property consultants. Dharma Production Pvt Ltd leased around 5500 sq ft in the Ambivali area this year.

Following the pandemic, the housing market, particularly the luxury residential segment, recovered faster. The office market picked up later, and deals, too, have since gained momentum, said Akash Hariani, joint managing director at Motilal Oswal Private Wealth.

“Given that their profession doesn’t have linear growth, commercial real estate creates that security and regular cash flows through steady rental income. It’s also a tangible asset holding, and being celebrities, they can also get a better deal or discount.”