Amitabh & Jaya Bachchan Gift Their Rs 50 Cr Bungalow ‘Prateeksha’ To Daughter Shweta Nanda

New Delhi: Bollywood megastar Amitabh Bachchan and his wife Jaya Bachchan have gifted their bungalow in Mumbai’s Juhu, Prateeksha, to their daughter Shweta Nanda. The bungalow in the Vitthalnagar Cooperative Housing Society is spread over two plots measuring 674 square metres and 890.47 square metres, which are collectively valued at approximately Rs 50.63 crore.

Two separate gift deeds were signed on November 8, and a stamp duty of Rs 50.65 lakh was paid for the registration of the deed, ETimes reported.

The Bollywood megastar and his family lived in Prateeksha for many years at the beginning of his career. He also owns two other bungalows in Juhu — Jalsa and Janak. Shweta Bachchan Nanda is an author, columnist, former model, and entrepreneur. She has authored a bestselling novel, ‘Paradise Towers.

According to the report, the Bachchan family has incurred a total stamp duty amounting to Rs 50.65 lakh for both gift deeds, as revealed by documents accessed through Zapkey.com. The market value of the bungalow is listed at over Rs 50.63 crore. Under the current regulations, the transfer of residential property as a gift from a father to either a daughter or son in Mumbai attracts a nominal stamp duty of Rs 200 along with a metro cess of 1% per deed.

The bungalow is constructed on two plots; the first, spanning 9,585 sq ft, was jointly owned by Amitabh and Jaya Bachchan. Meanwhile, the second plot, covering 7,255 sq ft, was solely owned by Amitabh Bachchan, the report added. The Bachchan family owns several properties in Mumbai including bungalows Jalsa, Pratiksha, and Janak in Juhu.

The veteran actor once shared on the quiz-based reality show ‘Kaun Banega Crorepati’ that the name of the bungalow, Pratiksha, was given by his father. He mentioned that there is a reference to it in his father’s poem, which states, “swagat sabke liye yahan par nehin kisike liye prateeksha” (all are welcome here, but there is no wait for anyone). This bungalow holds sentimental value for the actor, being his first residence in Juhu where he lived with his parents – mother Teji and father, the poet Harivansh Rai Bachchan.