Kangana Ranaut Sells Controversial Property Amidst "Emergency" Film Controversy, Gains ₹12 Crore Profit

Bollywood actress Kangana Ranaut, who is currently in the spotlight due to her upcoming film Emergency, has recently made headlines for a different reason. The actress has sold her controversial property in Mumbai's upscale Pali Hill area, realizing a profit of ₹12 crore. The sale comes at a time when Ranaut's film Emergency is facing significant controversy. The film, slated for release on September 6, has been embroiled in a dispute with the Central Board of Film Certification (CBFC) due to objections from the Sikh community. This controversy has delayed the film's release.

Sale Details and Financials

According to registration documents, Ranaut sold the Pali Hill property for ₹32 crore. She had originally purchased the property in September 2017 for ₹20.7 crore. In December 2022, she had taken a ₹27 crore loan from ICICI Bank using this property as collateral. The property had been utilized as the office for her production house, Manikarnika Films.

Attempt to Sell

The intention to sell the property had been in the air for some time. A video by the YouTube channel Code Estate last month hinted that a production house’s office was up for sale. Though the name of the production house and owner was not disclosed, the images used led many to speculate that it was Ranaut’s office. This speculation was later confirmed as Ranaut’s office. The property has been acquired by Shweta Bathija, a partner at Kamalini Holdings, who resides in Coimbatore, Tamil Nadu.

Property Controversy

The property, spanning 3,075 square feet with an additional 565 square feet designated for parking, has been a subject of controversy. In September 2020, the Brihanmumbai Municipal Corporation (BMC) targeted the property for alleged illegal construction. The BMC had demolished parts of Ranaut's office in Bandra. However, a stay order from the Bombay High Court on September 9 temporarily halted the demolition.

Financial Implications of the Sale

The registration of the property sale was completed on September 5, with a stamp duty of ₹1.92 crore and a registration fee of ₹30,000. The sale of this property marks a significant financial maneuver for Ranaut amidst the ongoing challenges related to her film Emergency. As the actress navigates these turbulent times, her decision to sell the property underscores the complex interplay of her personal and professional challenges.