Bollywood veteran Rajesh Khanna’s bungalow in Mumbai, acquired by Mangalurean Shashi Kiran Shetty in August 2014, will be demolished to make way for a multi-storey building.
The new owner plans to build a three- or four-storey building on the 6,500-square-foot property. “We’ve to redevelop the property since the existing structure is more than 50 years old. The process will start in a couple of months,” said Shetty, executive chairperson of Allcargo Logistics, part of Avvashya Group.
How did he zero in on Bollywood’s first superstar’s property on Carter Road in Mumbai’s suburb Bandra? “The actor’s family probably wanted to screen prospective buyers. I was looking for a property, and this one suited my budget. The deal was done directly with the family with a property consultant. The family was gracious during the process,” Shetty said.
Refusing to divulge the building plan, Shetty said they may keep the building name – Aashirwad – and hope to move into their house in 18 months.
The building’s original name, however, was not Aashirwad. It was called ‘Dimple,’ and before he married Dimple Kapadia, Rajesh Khanna bought the bungalow from fellow actor Rajendra Kumar and renamed it Aashirwad. The house had apparently proven “unlucky” for ‘Jubilee’ Kumar, but after buying it, Khanna delivered 15 hits in a row, a record still unbroken.
Shetty was in the Mangalore to receive D.Litt conferred by Mangalore University on Wednesday. “I’m honored as I’m not very educated,” said a modest Shetty, who built a Rs 4,500-crore empire with just a commerce degree.
The Bantwal entrepreneur started his journey in Mumbai at age 25, backed by two years of work in shipping agencies.