Mumbai: Bollywood superstar Rajesh Khanna's Carter Road bungalow, popularly known as 'Aashirwad', is being sold to a city industrialist.
The landmark sea-facing property, a major tourist attraction for legions of his fans, is believed to have been purchased by Shashi Kiran Shetty, executive chairman of Allcargo Logistics.
Market sources said the 603sq m property could fetch the late superstar's family around Rs 90 crore. The sole beneficiaries are his two daughters, Twinkle and Rinke.
Shetty refused comment on contact. His solicitor firm, Maneksha & Sethna, too, declined to name the buyer. According to sources, the deal is expected to be concluded once the mandatory 14-day notice about any ownership claim by a third party is over, said sources.
A per sources Shetty has been scouting for a bungalow in the city with a budget of around Rs 100 crore for the past couple of years. He had booked a sprawling apartment in the under-construction Palais Royale skyscraper at Worli for about Rs 40 crore. But the highrise, touted as the tallest residential tower in India, has been embroiled in a legal battle since 2012 and the BMC has halted work. "When Palais Royale got into legal trouble, Shetty started hunting for a bungalow,'' the sources said.
Khanna's bungalow falls under the stringent coastal regulation zone and, hence, the property is entitled to a limited floor space index in case it is redeveloped. But the sources said Shetty plans to live in it.
