Jeetendra bought Bharat Bhushan’s Pali hill bunglalow for Rs 4.25 lakh, the plot is now worth Rs 450 crore, he thought it was not fun for him: ‘You won’t believe it, I got 11.5 lakh from wood alone’ |

Jeetendrawho was once one of the most bankable and highest-paid actors in Bollywood, has also made a name for himself as a real estate developer over the years. His foray into the real estate business, however, began with a surprising deal involving a well-known actor Bharat Bhushanwhose economic downturn forced him to sell his expensive Pali Hill home for a fraction of its current value.Bhushan, a former Baiju Bawra celebrity, was struggling with financial problems when he sold a large plot of land to Jeetendra for Rs 4.25 lakh. After losing most of his wealth, the former actor was forced to give up his house and cars before dying of poverty.The land on which the bungalow stood is now said to be worth around Rs 450 crore. Ironically, despite getting the property at an incredible price, Jeetendra left soon after because he associated it with the box office failure that followed the purchase.Jeetendra recalled how the opportunity came to him unexpectedly. He said in an interview with The Reality Drive: “There was this big star in those days who was doing films like Baiju Bawra. Till then, we were living an average life. I lived in a 20×10 room; Eight people lived together in a chawl in Girgaum. So buying a bungalow was a big deal for me.”The former actor said he bought the bungalow, which stood on a 3,450-square-foot plot, for Rs 4.25 lakh. “Finally I bought a bungalow for Rs 4.25 lakh. What was surprising was that it came with 3,450 sq ft of land for the same price. We moved there, but suddenly four of my films were shelved. I told my father, ‘Bharat Bhushan ran away from here, now I think it’s my turn.’ If this continues, my career will be over before it even starts.‘My father agreed, and we moved.’At the same time, Jeetendra also invested in other properties in Cuffe Castle, where he bought floors at Rs 55 per square foot. Although he left the Pali Hill bungalow because he believed it brought him bad luck, the investment turned out to be one of the most profitable decisions of his life. Later when a designer approached him with the idea of ​​renovation, Jeetendra agreed without hesitation.“Then someone approached me to renovate the house. I agreed. You won’t believe it, but when it was demolished, I got Rs 11.5 lakh for the Burmese teak they used to build it. I bought the whole house for Rs 4.25 lakh and got Rs 11.5 lakh for the timber alone.” The money he got from selling the Burmese teak alone was almost three times what he had originally paid for the whole estate, even before the land was reclaimed.In retrospect, Jeetendra felt that Bharat Bhushan was forced to make a decision because of his financial situation. “Imagine how naive Bharat Bhushan was to sell the land for Rs 4.25 lakh.That experience, he says, laid the foundation for his lifelong interest in landscape development. Later, I renovated the place into Gautam Apartments. I sold the flats at Rs 85 per square foot because I was in a hurry. Her son, actor Tusshar Kapoor, revealed how the property’s value has appreciated over time. “Today, apartments there are selling for around Rs 85,000 per square foot.“Jeetendra added, “The land alone the building is on is worth around Rs 450 crore.” According to property portal NoBroker, Gautam Apartments, located on Nargis Dutt Road in Mumbai’s Pali Hill neighborhood, has 82 two-bedroom apartments of 1,175 square meters each. According to Jeetendra’s account, the flats were sold at around Rs 1 lakh each, resulting in a turnover of Rs 82 lakh. Combined with the Rs 11.5 lakh he earned from selling Burmese teak, reclamation became a very profitable business.Over the years, the value of this property has increased. Today, the public rooms at Gautam Apartments are valued at several crores, while the property is said to be worth around Rs 450 crore, taking the total cost of the building to over Rs 500 crore.