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For the first time, Shashi Shetty reveals how he snagged the 85 crore deal to buy Bollywood's iconic superstar's house and the plans for his new home.
A change of guard has taken place at an iconic Carter Road bungalow, one which housed Hindi cinema's first superstar. Walk into the late Rajesh Khanna's home Vardan Aashirwaad (in 2012, the bungalow was renamed from Aashirwaad) and you notice that the security guards are from a B2B logistics company. That's because the bungalow has changed hands after 44 years, to a brand new owner — logistics company founder, Shashi Kiran Shetty.
The deal was signed on August 28 for `85 crore between Shetty and Khanna's legal heirs, his daughters Twinkle (married to actor Akshay Kumar) and Rinkie (married to London-based investment banker Samir Saran). As we get a first look at the iconic bungalow, furniture is still being moved out, including a large, wrapped Krishna painting.
"I told the family they can take whatever they want from the house, except one painting of Mr Khanna by Prithvi Soni. I want to keep that," says Shetty. Khanna had bought Aashirwaad for `3.5 lakh in 1970 from fellow actor Rajendra Kumar.
Sea-facing bungalow Shetty is excited over the legacy of his new home, yet buying this property in Bandra wasn't his first choice. "I was keen to move to South Bombay. But I have been living in Bandra since 1998 and my family didn't want to leave," says Shetty, as he sits on a cream-coloured armchair in the living room. "This is where Rinkie sat after we signed the deal on August 28. It used to be Khanna's seat."
Mangalore-born Shetty moved to Mumbai in 1978 (Kaka was already Bollywood's reigning superstar by then) and founded the `4,300-crore company in 1993. His heart set on owning a sea-facing bungalow, Shetty began his search this year at Worli. "This property was not on the market. It was being managed privately. In May, I took a look around. It was amazing because of the location and the legendary people who lived here."
Legal wrangle Since Khanna's death two years ago, there was the problem of his alleged live-in companion Anita Advani staking a claim on the bungalow. The legal battle between Advani and Khanna's daughters is still on. "I wanted to be sure that there were no encumbrances from her. I don't know what right she has over his inheritance, nor do I want to know," says Shetty.
Backed by a private wealth management firm, Shetty met Akshay Kumar and his family at their Juhu residence for two hours, just before Shetty left for the FIFA World Cup in Brazil. "We spoke about the property only for 10 minutes. I proposed to buy it, he made his offer. I made a counter offer and we decided to close the deal somewhere in between." No advance changed hands and the deal was sealed with a handshake.
Vaastu compliant Though he was sold on the location, Shetty did consult with his family and friends, including Sunil Shetty, Akshay Kumar's colleague and buddy. A Vaastu consultant also gave the nod, given that Khanna rose to great heights, but also suffered a sharp downfall in that house. "You can't blame a property for ups and downs in anyone's life. The bungalow has enough sunlight coming in and the view is breathtaking."
VardanAashirwaad's new owner admits he isn't a Bollywood addict or a Rajesh Khanna fan. But Shetty recalls watching Khanna's famous hits like Haathi Mere Saathi, Aradhana, Kati Patang and Anand. The bungalow is not in the best shape today and Shetty reveals he may demolish it and build his home from scratch.
"Even if we live here, there will be a lot of work done." And will the name VardanAashirwaad stay? "It makes sense to keep it, doesn't it?" says he.
WATCH: Rajesh Khanna's bungalow gets new identity
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