Realty Riches: Akshay Kumar’s Sky City Units Appreciate Nearly 100 Per Cent Since 2017

by R. Suryamurthy July 28, 2025

By R. Suryamurthy July 28, 2025 0 comments 3 minutes read

PHOTO: X@akshaykumar

Bollywood actor Akshay Kumar has sold two adjacent residential units in Mumbai’s Borivali East suburb for a combined Rs. 7.10 crore ($850,000), nearly doubling his 2017 investment in the properties, according to property registration data reviewed by Square Yards.

The transactions, completed in June 2025, pertain to apartments in Oberoi Sky City, a 25-acre premium residential project developed by Oberoi Realty. Property documents accessed through the Maharashtra government’s Inspector General of Registration (IGR) portal confirm the sales.

Units See Close to 100 Per Cent Appreciation

The larger of the two units, spanning 1,101 sq. ft. (approximately 102 sq. m.), fetched Rs. 5.75 crore ($688,000) and includes two car parking spaces. The actor had acquired this property in 2017 for Rs. 3.02 crore ($362,000), marking a price appreciation of nearly 90 per cent over eight years. The sale incurred a stamp duty of Rs. 34.5 lakh ($41,300) and registration charges of Rs. 30,000 ($360).

The smaller unit, with a carpet area of 252 sq. ft. (23.45 sq. m.), was sold for Rs. 1.35 crore ($162,000). Kumar had purchased it in 2017 for Rs. 67.90 lakh ($81,500), reflecting a 99 per cent gain. Stamp duty and registration costs for this deal amounted to Rs 6.75 lakh ($8,100) and Rs. 30,000 respectively.

Both apartments are part of a ready-to-move-in complex that offers a mix of 3BHK, 3BHK+Studio, and duplex units, catering to Mumbai’s affluent homebuyers seeking upscale amenities and strategic location.

Borivali East: Rising Market on Western Corridor

Situated along the Western Express Highway and serviced by Metro Line 7 and the suburban rail network, Borivali East has grown into a premium residential destination. Its proximity to Sanjay Gandhi National Park and business hubs like Goregaon and Malad makes it attractive to both professionals and investors. The area has witnessed steady appreciation in property prices, supported by improving infrastructure and sustained housing demand.

Sky City Sees Strong Sales Momentum

According to Square Yards Data Intelligence, Oberoi Sky City recorded 100 sale registrations from August 2024 to July 2025, translating into a cumulative transaction value of Rs. 428 crore ($51 million). The average resale price in the development stands at approximately Rs. 47,800 per sq. ft.

In a sign of growing celebrity interest in the project, Square Yards also reported that actors Amitabh Bachchan and Abhishek Bachchan acquired multiple apartments in Sky City in May 2024.

Celebrity Investor Profile

Akshay Kumar, one of Indian cinema’s most bankable stars, has maintained a disciplined and diversified investment portfolio, often channeling capital into high-value real estate in Mumbai. The actor, who received the Padma Shri for his contribution to cinema and won the National Film Award for Best Actor in 2017, is known for blending commercial success with savvy financial decisions.

His recent property divestment highlights the continued strength of Mumbai’s high-end residential segment, especially in developments backed by reputed builders and located in well-connected suburbs.

($1 = approx. Rs. 83.50)