Already having a vast dominance over television industry over eighteen years, subsequently crafting a profitable business as well as setting a tough competition in Bollywood, Ekta Kapoor’s Balaji Group has now headed forward to dig heels in the real estate market in Mumbai city, ignoring the recession period, because of which many projects and ventures are at halt. Currently, two projects are in row- a commercial complex in Chandivli, Andheri East, and a residential one in Mira Road- which is being monitored by her father Jeetander through group firms Balaji Developers and JK Developers.
The Andheri project, named Lighthall, is being carried out through a joint venture with real estate chief Hiranandani, and is already in an advanced stage; two towers boasting 7 lakh-sq ft space currently stand on a land partly owned by Jeetandra. The venture in Mira Road, where the actor owns Rs 25-crore plot, is still in the development process.

The industry buzz is that Jeetandra is seeking real estate possibilities in the city and suburbs. The news is likely to inject some life in the industry that has been in a bad mood over policy issues, pending clearances, cash crunch and poor demand.

As told to a newspaper, “It happened by chance. As of now, just these two projects, but who knows what plans the destiny has for me ahead,” Jeetendar said cautiously.
Ekta Kapoor mentioned that she was strictly into television and films, and her group’s realty plunge was entirely her father’s idea. Jeetendra, however, said: “I will soon transfer the properties into Ekta and Tusshar’s names. At this age (68), it’s not easy to get into paperwork and legal issues, which are synonymous with the real estate business.” He added: “But I am putting my best foot forward, and I hope it pans out well.”

Initially, Jeetendra had planned to build a “studio complex” at the plot, but two years ago the idea gave way for Lighthall. The project’s two buildings have been constructed, and internal work is underway. “A part of the land on which the project is coming up was owned by Jeetendra. We are developing and marketing it,” Niranjan Hiranandani of Hiranandani Group told this paper. Over the years, Jeetendra has also become good friends with Niranjan’s brother, Surendra.

The Mira Road land is located near Green Court Club. It was earlier ensnared in a dispute with RNA Builders, which had claimed to be its owner since 1987. “The matter with RNA has been sorted out. The land is mine now. I thought why not make use of it to the maximum,” Jeetendra said. “After I get environmental clearance, the construction of residential buildings will begin. This might take about a year.”

The industry sources said that like in the case of the Andheri land, Jeetendra had originally planned a studio on the Mira Road plot. Sources in Mira Bhayander Municipal Corporation revealed that Balaji Developers had already taken a ‘commencement certificate’ for the residential project, which will see construction of several buildings.