Cash rich Arbaaz to cough up Rs 60 crore for a property

Arbaaz Khan investment in a 34,000 sq feet space in a commercial complex in Andheri

Arbaaz Khan has invested in a commercial complex near Yash Raj Studios in Andheri, Mumbai. 

The Dabangg producer has purchased two floors (about 34000 sq ft in area) in the property being developed by Parinee Developers.

According to realtors from the area, Khan booked the space soon it was launched. Real estate brokers from the area tell us that the commercial property rates in the area are nothing less than Rs 18, 000 per sq. ft. 

Which means Khan has spent more than Rs 60 crore for the space.

Apparently, Khan had been scouting property over the last few months. After visiting the under-construction site, he was impressed with the builders and decided to finalise the place. 

A source reveals, "The actor-producer has
been in talks with several builders. He wants to set up a huge office where he will work on his forthcoming productions. 

The super success of Dabangg has given him the confidence to get into film production with new fervour. 

Even though Salman and Sohail are involved in the production process, it's Arbaaz who makes all the key decisions. So when he decided to invest in this place, his brothers were more than supportive." 

Says an Andheri realtor, "This building will stand next to Yash Raj Studio and is one of the best locations for media houses. It's a futuristic building designed by a renowned foreign architect. 

An artist's impression of the area where the complex is being developed

An ultra-modern iconic office tower, it makes a statement about anyone owning an office there."

Interestingly, Arbaaz and wife Malaika Arora-Khan were special guests at a pre-launch event held by Parinee Developers at the Bandra-Kurla complex last month. Arbaaz Khan is looking at investments

Hoeverre, Arbaaz says, "I am in talks to make an investment. But it definitely isn't to the scale of what was reported." 

A source close to him says, "He isn't looking at shifting his office base to Andheri, it is just an investment offer he's considering."