Rajesh Khanna’s bungalow sold for Rs. 95 crores

Bollywood’s original superstar Rajesh Khanna’s bungalow ‘Aashirwad’, is being sold to a city industrialist. The landmark property at Carter Road, is a major tourist attraction. This iconic bungalow is apparently being purchased by Shashi Kiran Shetty executive chairman of Allcargo Logistics.

As per sources, the landmark sea-facing property as per market sources is approximately around 603 sq m. It can fetch around Rs. 95 crores for Khannas. The sole beneficiaries to Rajesh Khanna’s property are his two daughters Twinkle and Rinkie.

Sources further added that, the deal is expected to be concluded once the mandatory 14-day notice about any ownership claim by a third party is over.

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 re-developed.

The iconic bungalow was to be converted to a museum as per Rajesh Khanna’s last wish. Khanna had said “By the grace of the Almighty, my daughters Twinkle and Rinke are married, settled and have huge houses themselves. They don’t need my property… Aashirwad is the home of the first superstar of Bollywood, and I would like it to remain that way. Of course, my daughters will take the final decision because it will be their inheritance in the future”
Truly a surprising turn of events.

It would have been a better idea to covert the home into a museum as per Rajesh Khanna’s wish.