Salman Khan's Bandra pad most speculated address in town?

Many Bollywood actors often say that Salman khan has a heart of gold. The star, known for his extravagant ways, has gifted his friends and co-stars rolex watches, luxury cars and exotic holiday packages. However, this time, he has gone one step ahead by buying a residential property at Mumbai’s Bandstand at a highly inflated price.

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Former IPS officer and social activist YP Singh,who made public the stamp duty documents of the new flat named ‘The Address’ that Salman recently purchased, have alleged that Khan paid a whopping Rs 1.85 lah per sq foot for the apartment, which is more than the prevailing market price of Rs Rs 30,000 and Rs 40,000 per square foot,said a CNN-IBN Live report.

According to the documents the actor is buying a 1,079-sq-ft apartment for a whopping Rs 20 crore.

So why is Salman paying Rs 20 crore for a Rs 3 crore flat?

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The extra price being paid is to acquire a non-FSI component of the building, which cannot be sold. There is a dedicated parking at the 11th floor with a lobby, telephone area and a personal swimming pool. On paper, the property is only 1079.95 square feet, but actually the space occupied (that of the flat) is around 8,000 square feet. This is the highest amount ever paid per square foot for any flat in the city.

Since the flat was sold for a whopping Rs 20 crore, Salman has also been accused of money laundering. Singh alleged that Salman paid about five times over the current rate of the area. “Why would anyone pay five times over the existing rate of the area?” questioned Singh. He reinforced the need to interrogate whether Salman had violated any rules and purchased area earmarked for common use. “As per the law, common areas like lobby, garden, swimming pool, parking and fire refuge area cannot be owned by an individual, but can be utilised by all the members of the building. It would also be a case of money laundering, as Khan, by paying such a huge amount of Rs 20 crore might have converted all the black money into white, Singh told Bloomberg.

Brokers, however, shrugged off the matter, claiming this is nothing new.

So far there has been no comment nor has any legal statement been issued by Salman Khan or his family.