Shah Rukh to pay only Rs. 8.3 crore for a Rs. 200-crore plot

By HT

Actor Shah Rukh Khan gets to buy the 26,329-square-foot Bandra plot on which his sea-facing bungalow, Mannat, stands for Rs. 8.3 crore under a new government scheme for lease-holders.

Realtors value the plot at more than Rs. 200 crore at the prevailing market rate. At present, Khan leases the plot from the government at an annual rent of Rs. 2,325. Under the state revenue department’s new policy on leasehold plots, Shahrukh and several others among 666 leaseholders in Mumbai were in January 2013 given the option to either buy the plot or cough up lease rents that could be at least 1500 times the present rate.

To own the plot, the leaseholders were asked to pay 20% of the ready reckoner rates (value of the land decided by the government whic