1960s superstar, who once lived in a chawl, left ‘unlucky’ bungalow he got for Rs 4.2 lakh decade ago. Today, it is valued at nearly Rs 450 crore

Jeetendra was one of the biggest stars of the 1960s and 1970s. With more than 120 hits in his career, he is known to be one of the biggest stars in Hindi cinema, with many blockbusters such as Humjoli, Caravan, Bidaai, Udhar Ka Sindur, Dharam Veer, Swarg Narak, and Jaani Dushman to his name. However, off-screen, the star was known to be a fearless yet shrewd man when it comes to buying/investing in real estate. In a recent interview, the star said one ‘unlucky’ bungalow he purchased years ago for just Rs 4.25 lakh was now worth nearly Rs 450 crore.

In a chat with The Realty Drive, Jeetendra said his entry into real estate investments began when Baiju Bawra star Bharat Bhushan, who was battling a financial crisis, offered to sell his Pali Hill bungalow. Jeetendra, who then lived at a chawl in a 20 X10 room, did not want to miss the opportunity. The family purchased the bungalow for Rs 4.25 lakh. However, soon after moving in, four of Jeetendra’s films failed at the box office. He began linking the property to his career setbacks and eventually decided to leave the house.

Although he moved out of the bungalow, he decided to retain ownership, a decision which would prove to be wise in the long run.


Years later, Jeetendra opted to reconstruct the property via a redevelopment initiative. Remarkably, he recovered a sum significantly greater than his original purchase price even before the onset of construction. He disclosed that a purchaser who contacted him with a redevelopment plan proposed Rs 11.5 lakh for the Burma teak timber salvaged during the bungalow's demolition. This sum by itself was significantly higher than the Rs 4.25 lakh he spent to purchase the whole property.

The location was later converted into Gautam Apartments, located on Nargis Dutt Road in the Pali Hill area of Mumbai. Pondering the previous transaction, Jeetendra noted that Bharat Bhushan had quickly sold the valuable asset due to his monetary struggles. He thought the actor might have made distinct profits from the land and the building rather than finalising the whole transaction in only two days.

Jeetendra also admitted that he had sold the newly built apartments at a lower price because he was worried potential buyers might not appear later. He was said to have allowed them to leave for Rs 85 per square foot. His son, actor Tusshar Kapoor, emphasised the significant rise in property values, stating that apartments in the same area now fetch around Rs 85,000 per square foot.

He now revealed that the land on which the building is located is now a whopping Rs 450 crore.

Jeetendra's story proves that land can sometimes be more valuable than gold even. Not for nothing did business tycoon Jehangir Ratanji Dadabhoy Tata former chairman of Tata Sons and Tata Group once remark: "One who owns land owns the future."