Amitabh Bachchan and Jaya Bachchan, iconic figures in Bollywood, have made a significant gesture by gifting their opulent bungalow, Pratiksha, located in the affluent Juhu area of Mumbai, to their daughter, Shweta Nanda.
The transfer of ownership was formalized through two distinct gift deeds, with each deed corresponding to a specific plot on which the bungalow stands.
The deeds for the bungalow, which spans a total of 16,840 sq ft, were executed on November 8th and officially registered the following day.
The Bachchan family has incurred a total stamp duty amounting to Rs 50.65 lakh for both gift deeds, as revealed by documents accessed through Zapkey.com. The market value of the bungalow is listed at over Rs 50.63 crore.
Under the current regulations, the transfer of residential property as a gift from a father to either a daughter or son in Mumbai attracts a nominal stamp duty of Rs 200 along with a metro cess of 1% per deed.
The bungalow is constructed on two plots; the first, spanning 9,585 sq ft, was jointly owned by Amitabh and Jaya Bachchan. Meanwhile, the second plot, covering 7,255 sq ft, was solely owned by Amitabh Bachchan.
The Bachchan family owns several properties in Mumbai including bungalows Jalsa, Pratiksha, and Janak in Juhu.
The veteran actor once shared on the quiz-based reality show 'Kaun Banega Crorepati' that the name of the bungalow, Pratiksha, was given by his father. He mentioned that there is a reference to it in his father's poem, which states, "swagat sabke liye yahan par nehin kisike liye prateeksha" (all are welcome here, but there is no wait for anyone). This bungalow holds sentimental value for the actor, being his first residence in Juhu where he lived with his parents – mother Teji and father, the poet Harivansh Rai Bachchan.
Meanwhile, Amitabh Bachchan, recently, made a real estate investment by purchasing four offices covering almost 8,400 square feet in a commercial project situated in the Oshiwara locality of Mumbai's Andheri suburb, at a cost of nearly Rs 29 crore.