Jeetendra turned ‘unlucky’ Rs 4.25 lakh Mumbai bungalow into a Rs 1,414 cr real estate empire | Bollywood News

Speaking to The Realty Drive, Jeetendra recalled how the opportunity came his way.

“There was this huge star in those days who had done films like Baiju Bawra. He came to me with the offer to buy his Pali Hill bungalow,” he said.

Jeetendra discussed the offer with his father, who encouraged him to buy the property. The actor recalled how his family had lived in a small room in a Mumbai chawl before his success in films.

“I used to live in a 20×10 room; eight people stayed together in a chawl in Girgaum. So buying a bungalow was a huge thing for me,” he said.

The family bought the bungalow for Rs 4.25 lakh. However, after moving in, four of Jeetendra’s films flopped. He began to associate the house with his professional setbacks and decided to move out.

“I told my father, ‘Bharat Bhushan ran away from here, now I think it’s my turn. If this continues, my career will end before it has properly begun.’ My father agreed, and we moved out,” he recalled.

Although Jeetendra left the bungalow, he retained ownership of the property. Years later, the decision would prove financially rewarding.

Jeetendra bought Bharat Bhushan’s bungalow when he was going through a difficult financial phase. (Photo: Express Archive)

How redevelopment turned into a major investment

Jeetendra eventually agreed to redevelop the property. During the demolition of the bungalow, he received Rs 11.5 lakh for the Burma teak used in its construction.

“You won’t believe it, but when it was demolished, I received Rs 11.5 lakh just for the Burma teak used in its construction. I had bought the entire bungalow for Rs 4.25 lakh and earned Rs 11.5 lakh from the wood alone,” he said.

He subsequently developed Gautam Apartments on the property. However, Jeetendra admitted that he sold the flats cheaply because he was worried about finding buyers.

“I sold the flats for Rs 85 per square foot because I was in a hurry. I was worried nobody would buy them later,” he recalled.

His son, actor Tusshar Kapoor, said flats in the building now sell for around Rs 85,000 per square foot. Jeetendra estimates that the land alone is worth around Rs 450 crore today.

Ekta Kapoor’s first home and the Juhu property

Jeetendra’s property investments also grew through his family’s requirements. He recalled how his daughter, Ekta Kapoor, approached him when she wanted to buy her first home.

“One day Ekta came to me. She was doing well in her career and wanted to become independent. She said, ‘Papa, I want to buy my own flat,’” he said.

The experience made him realise that advertised property sizes could be misleading. Recalling a flat Ekta was interested in, he explained that a property advertised as 3,000 square feet had an actual carpet area of only 1,700 square feet.

“In those days, even kitchen platforms and similar spaces were included in the super built-up area,” he said.

Jeetendra also recalled buying a plot in Juhu after its owner approached him with an offer. He subsequently decided to purchase the neighbouring plot as well, but the deal nearly fell apart when the owner backed out after receiving a token payment. The dispute was eventually resolved through negotiations, allowing Jeetendra to acquire both plots and create a larger property.

Jeetendra and his family own Pantheon Buildcon and Tusshar Infra Developers. (Photo: Express Archive)

From residential buildings to commercial real estate

Over the years, Jeetendra expanded his investments beyond residential properties. He bought land in Mira Road for a studio, acquired plots in Pune and invested in Powai, where the family developed data centres, partly in partnership with the Hiranandani group.

His property business also intersected with Ekta’s growing entertainment company, Balaji Telefilms.

Jeetendra recalled that he had constructed a building but initially struggled to sell it because the construction cost was higher than the prevailing market price.

“When I built that property, my construction cost was around Rs 2,800 per square foot, while the market price was only about Rs 2,600 per square foot. So I couldn’t sell it,” he said.

The situation changed when Ekta needed office space for Balaji Telefilms.

“Luckily, Ekta’s company took off, she needed office space, and Balaji moved into that building. That’s how it all came together. I had no idea back then that Ekta would become so successful,” he said.

Jeetendra has also spoken about the risks involved in property investments. Recalling a 12-acre property that was initially intended for an old-age home, he said the land was tied up in litigation. It took seven to eight years to resolve the legal issues, during which his investment grew in value.

The Rs 855 crore Andheri deal

In May 2025, Jeetendra and his family-owned companies, Pantheon Buildcon and Tusshar Infra Developers, sold a 2.39-acre land parcel in Mumbai’s Andheri to NTT Global Data Centres for Rs 855 crore. The deal was registered on May 29, 2025, according to property registration documents reviewed by Square Yards.

The property housed Balaji IT Park and included three buildings with a combined built-up area of approximately 4.9 lakh square feet. The transaction was one of the biggest real estate deals involving a Bollywood family that year.

The Andheri transaction was followed by another property sale in June 2025. Jeetendra and Ekta Kapoor sold a 2,149-square-foot apartment in Omkar 1973, Worli, for Rs 12.25 crore.

The Rs 559 crore Chandivali deal in 2026

In January 2026, Jeetendra and Tusshar Kapoor sold another commercial property in Mumbai, this time in Chandivali, to NTT Global Data Centres and Cloud Infrastructure India for Rs 559 crore. The transaction was carried out through Tusshar Infra Developers and Pantheon Buildcon.

The property included an 11-storey commercial building that housed a data centre, along with an adjacent structure used for diesel generators.

The sale followed the Rs 855 crore Andheri transaction in 2025, taking the combined value of the two commercial property deals to Rs 1,414 crore.

‘You don’t choose the land, the land chooses you’

Despite his success, Jeetendra has said that real estate involves risks, legal disputes and changing regulations.
He believes that patience and timing play an important role in property investments.

“Every deal has a story. Destiny plays a very important role. Nobody is so intelligent that they alone make great property decisions,” he said.

DISCLAIMER: This article is intended purely for informational and entertainment purposes and does not constitute financial or investment advice.