Sonam Kapoor's flat sale sparks big real estate debate on social media, here’s why

Actor Sonam Kapoor recently decided to offload a plush flat she owned for around Rs 32.5 crore. Kapoor’s sale of the apartment near Mumbai’s Bandra-Kurla Complex sparked a big debate on social media around real estate. The Bollywood star did not make a massive profit on the real estate asset which she sold last week on December 29, 2022. 

She had reportedly paid around Rs 31 crore for the flat seven years ago, which means that she was able to hardly make a Rs 1 crore profit on the transaction. Several users on social media cited the news to highlight that real estate does not guarantee profit. Some users claimed that Sonam Kapoor had sold her flat rather cheaply while others went on to claim that property prices in India’s financial capital are struggling to climb. Some said that Kapoor’s case of underwhelming profit was not a unique one with several flat owners in Mumbai also seeing the same response on their properties.

Social media debate over Sonam Kapoor’s flat sale with little profit

Users had different views. “Real Estate always does not make money!” exclaimed one user. Several users tagged the actor and asked “What happened?”. One user said that the flat sale by Kapoor was a “public symbol” of how real estate is yielding poor returns in Mumbai.

“Seeing lot of comments poking fun at the poor returns for Sonam Kapoor in this real estate purchase. She's just a public symbol for how prices have behaved in Mumbai from 2015-22. Majority of buyers who have bought in 2015 have suffered the same fate,” they wrote.

Some users blamed constant rate hikes which have increased the home loan EMI burden on the common man. “I find so many people commenting about Sonam Kapoor's Flat.. However, the constant rate hikes have broken the back of Common Man who is paying Home Loan EMI,” one of them wrote.

Have property prices struggled in Mumbai in recent years?

Property prices in the Mumbai Metropolitan Region (MMR) have increased by around 13 percent on average from 2015 to 2022, as per a report citing Anarock Research. This is the time period between Sonam Kapoor buying and selling her BKC flat.

From Rs 10,280 per square feet in 2015, the average price climbed to Rs 11,569 per square feet in 2022. 

READ | See inside pics of Sonam Kapoor's Mumbai apartment, which she sold for a whopping Rs 32 crore