New Look: Work begins on Rajesh Khanna’s old bungalow ‘Aashirwad', owners to shift in by 2017

The construction where Rajesh Khanna’s bungalow ‘ Aashirwad’ used to be in Mumbai has begun and if things go according to plan, the new owners will be moving in by end of 2017 or early 2018. Shashi Kiran Shetty, chairman, Allcargo, and the legendary bungalow’s new owner, said that he had gotten all the approvals and that work is underway for the four-storied building on Bandra’s seaface, Carter Road.

Shetty bought the superstar’s property for `85 crore in 2014. He has since finalised the architect and interior design firm that is working on his new home, but declined to disclose the names. While Shetty has bought this property for personal use, his company Allcargo Logistics has a big land bank across various cities in India. While the total land value is estimated to be about `400 crore, half of this is located in Jhajjar, Haryana. Shetty said at an event last week that this is being developed to build a logistics warehouse park.