- Jeetendra bought a Pali Hill bungalow from Bharat Bhushan for Rs 4.25 lakh
- The bungalow included a 3,450 sq ft plot at the purchase price
- Jeetendra moved out believing the house brought bad luck after film flops
Buying a bungalow was once a dream Jeetendra never imagined would come true. Having grown up in a chawl in Mumbai with his family, owning a house in the city's upscale Pali Hill was a life-changing moment. But what started as a dream purchase soon became a source of worry for the actor, who believed the property had brought him a streak of bad luck.
In a recent conversation with The Reality Drive, Jeetendra looked back at the story behind the bungalow that once belonged to legendary actor Bharat Bhushan. While he eventually moved out because he thought the house was unlucky, the same property has now become one of the most valuable investments of his life.
From A Chawl To A Pali Hill Bungalow
Jeetendra shared that Bharat Bhushan, remembered for films like Baiju Bawra, approached him during a financially difficult phase and offered to sell his Pali Hill bungalow.
Recalling that moment, Jeetendra said, "There was this huge star in those days who had done films like Baiju Bawra. He came to me with the offer to buy his Pali Hill bungalow. When I spoke to my father, he said, ‘Let's also buy a bungalow.' Until then, we had lived a very lower-middle-class life. I used to live in a 20×10 room; eight people stayed together in a chawl in Girgaum. So buying a bungalow was a huge thing for me."
The actor revealed that he bought the bungalow for Rs 4.25 lakh. The deal also included a 3,450-square-foot plot, making it an unbelievable purchase by today's standards.
Why Jeetendra Left The House
Although buying the bungalow was a major milestone, Jeetendra said things quickly took a turn after he shifted there. Several of his films failed at the box office, making him believe the property was bringing him bad luck.
He recalled, "I finally bought the bungalow for Rs 4.25 lakh. What was even more shocking was that it came with a 3,450 sq ft plot at the same price. We shifted there, but suddenly four of my films flopped. I told my father, ‘Bharat Bhushan ran away from here, now I think it's my turn. If this continues, my career will end before it has properly begun.' My father agreed, and we moved out."
The Property Turned Into His Biggest Investment
Years later, Jeetendra decided to redevelop the bungalow. Even before construction began, the property started giving him returns he had never expected.
Sharing one of the most surprising parts of the story, he said, "Someone later approached me to redevelop the bungalow. I agreed. You won't believe it, but when it was demolished, I received Rs 11.5 lakh just for the Burma teak used in its construction. I had bought the entire bungalow for Rs 4.25 lakh and earned Rs 11.5 lakh from the wood alone."
The star also reflected on Bharat Bhushan's decision to sell the property in such a hurry.
"Just imagine how naïve Bharat Bhushan was to sell such a premium property for Rs 4.25 lakh. He was in a very difficult situation and missed a huge opportunity. He could have earned separately from the land and the building, but he wrapped up the entire transaction in just two days."
Jeetendra later redeveloped the site into Gautam Apartments on Pali Hill's Nargis Dutt Road. Though, he admitted that he sold the newly built flats much earlier than he should have. "Later, I redeveloped the property into Gautam Apartments. I sold the flats for Rs 85 per square foot because I was in a hurry. I was worried nobody would buy them later."
His son, actor Tusshar Kapoor, pointed out how much prices have changed over the years, saying, "Today, flats there sell for around Rs 85,000 per square foot."
Looking at the property's current value, Jeetendra summed it up with one final revelation: "The land alone on which the building stands is worth nearly Rs 450 crore."