Veteran Star Jeetendra Recalls the Mumbai Bungalow He Once Abandoned as 'Unlucky'
The journey from a modest chawl to the glittering heights of Bollywood stardom is filled with fascinating stories, but few rival the real estate twist experienced by veteran actor Jeetendra. Long before he became one of Hindi cinema's most iconic box office stars, the actor purchased a sprawling Mumbai bungalow for just ₹4.25 lakh from a fellow peer facing financial distress. However, driven by superstition after a string of box office flops, the actor initially abandoned the property, failing to foresee that this very plot would decades later skyrocket into a staggering ₹450 crore real estate asset.
Struggling Days in Girgaon Chawl and Buying Bharat Bhushan's Pali Hill Bungalow
For a middle-class family cramped inside a tiny 20x10-foot room in Mumbai's Girgaon chawl, owning a home in the city of dreams was the ultimate aspiration. Following the breakout success of his early films, Jeetendra set out to fulfill that dream. During an interview with The Reality Drive, the veteran star recalled learning that legendary actor Bharat Bhushan—famed for classics like Baiju Bawra—was looking to sell his property due to mounting financial troubles. Seizing the opportunity, Jeetendra purchased the prime bungalow located in Mumbai's upscale Pali Hill area for a modest ₹4.25 lakh, a massive financial commitment for his family at the time.
The 'Unlucky' Bungalow Phase and Selling Antique Wood for Profit
Soon after moving into the Pali Hill property, Jeetendra's career hit a rough patch as several of his films failed consecutively at the box office. Convinced by the superstition that the house was bringing him bad luck, the actor moved out and stopped living there. Later, acting on advice, he undertook renovation work, discovering a surprising financial windfall when he sold the damaged Burma and teak wood furniture from the bungalow for over ₹11.50 lakh—more than double the original purchase price of the entire property.
Transformation into Gautam Apartments and Multicrore Valuation
Rather than letting the land sit vacant, Jeetendra eventually redeveloped the property into Gautam Apartments, striking a deal that included a 3,450-square-foot plot where he initially sold flats at lower rates. Today, real estate experts estimate the total market value of that original property to be a jaw-dropping ₹450 crore. Even though Jeetendra currently resides with his family in another ultra-luxurious Mumbai bungalow valued at roughly ₹200 crore, the incredible fortune tied to his old Pali Hill investment remains one of Bollywood's most legendary property tales.
