Coldplay's Ahmedabad show boosted economy by Rs 700 crore, Gujarat being dry state was a concern, says BookMyShow CEO: ‘Show's budget was…'
The idea to perform at the Narendra Modi Stadium in Gujarat was Coldplay's idea, said Ashish Hemrajani, the founder and CEO of BookMyShow. The band played five shows in India earlier this year, three in Mumbai and two in Ahmedabad. There were concerns about whether the Gujarat capital was infrastructurally capable of hosting such a massive live event, which saw over 2 lakh people in attendance, booked out local hotels, and fuelled an unregulated spike in ticket resales. In an interview with Raj Shamani, the BookMyShow CEO opened up about putting the events together, and the help and support that he received from top government ministers.
'To play in the world's largest cricket stadium, as a thought, came from the band,' he said, adding that work began a year prior to the actual show. Not only did they have to figure out how audiences will travel to and from the city, they also had to make sure that Gujarat being a dry state wouldn't hamper their enjoyment. He had to reach out to the Railway Minister to arrange for special trains from Mumbai, which was a tall ask at the time, seeing as the Mahakumbh was also taking place.
Also read – Coldplay creates history with the 'biggest concert ever' in Ahmedabad: 'Totally mind-blowing'
He said that he received an enthusiastic response from Jay Shah, who happily agreed to loan out the Narendra Modi Stadium. 'So, I had a partner in crime, and we went back to the band and said that it's happening,' he said, adding that the Ahmedabad shows contributed Rs 700 crore to the Gujarat economy. 'Ahmedabad's infrastructure has really improved… But getting into the city, there aren't enough flights. And around 75% of the people were coming from out of Gujarat. It was mathematically impossible to transport as many people into the city,' he said, adding that special support was necessary from the Indian Railways.
He also addressed the potential losses from food and beverages. 'Gujarat has prohibition, so will people even come? Will people enjoy themselves? But it became the world's largest concert. Everybody came safely, they left safely. They didn't miss alcohol… Employment, hotel, airlines, food, travel, merchandise, spends in the city, we calculated what the average spend per-person in Ahmedabad was. The GST impact was Rs 72 crore, the overall impact was around Rs 700 crore, the direct impact was around Rs 250 crore,' he said, adding that the Ahmedabad show probably cost between Rs 30 crore to Rs 40 crore, minus artiste fees.
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Time of India
33 minutes ago
- Time of India
Shah Rukh Khan rents, Aamir Khan buys, Priyanka Chopra sells: What's driving Bollywood's real estate trends?
Mumbai's skyline isn't just dotted with luxury skyscrapers and sea-facing villas—it's shaped by the dreams, dilemmas, and lifestyle choices of India's biggest stars. While some celebrities are investing crores into owning a piece of the city they rule, others are choosing the flexibility—and status—of luxury rentals. Tired of too many ads? go ad free now With temporarily leasing swanky duplexes and Aamir Khan purchasing a new flat amid redevelopment, the age-old 'Rent vs Buy' debate is heating up in Bollywood. But what's really influencing these decisions? Is it just economics, or is image, transience, and status playing a bigger role? Here's a closer look at why some celebs are laying down permanent roots, while others are simply renting the dream. Shah Rukh Khan rents as Mannat gets a makeover King Khan himself is setting the tone for the conversation. While his iconic residence Mannat is undergoing renovations, Shah Rukh Khan has rented out four floors in the upscale Puja Casa building in Bandra. The cost? A staggering ₹24.15 lakh per month. While many fans may assume a superstar like SRK would opt for another purchase, this move is strategic. It's temporary, functional, and allows him to maintain privacy and lifestyle standards without committing to another major investment. Aamir Khan buys a new pad amid redevelopment In contrast, Aamir Khan—known for his measured decisions both on and off screen—recently purchased a Rs 9 crore flat in Bandra. With his current residence in Pali Hill set for redevelopment, Aamir seems to be making a long-term play, securing a new property even as he waits for possession in the redeveloped building. His decision reflects a more traditional approach: stay invested in real estate, especially in a locality that aligns with one's stature. Tired of too many ads? go ad free now The transaction also included a hefty Rs 58.5 lakh stamp duty and Rs 30,000 registration fee—small change for the superstar, but telling of his commitment to ownership. The Glamour of Renting For many younger stars, however, renting seems to be the preferred choice. It offers access to luxury living without the burdens of ownership in one of the world's most expensive real estate markets. and Katrina Kaif, Bollywood's power couple, reportedly renewed the lease on their Juhu apartment—paying Rs 17.01 lakh per month, with a 3-year rent outlay of approximately Rs 6.2 crore. Add to that a Rs 1.75 crore security deposit, and it's clear that this isn't about affordability—it's about lifestyle without long-term commitment. Kriti Sanon resides in a 5,184 sq ft duplex in Andheri West, rented from none other than Amitabh Bachchan. At Rs 10 lakh a month, the apartment gives her the luxe image and space a star of her rising stature demands, without locking in crores. Renting with a Purpose Not every celeb rents for flash or flexibility. Some, like veteran actor Anupam Kher, do it out of practicality. 'I prefer renting in Mumbai and investing elsewhere,' he said in an interview, revealing he owns properties in Chandigarh and Shimla, but chooses to stay on lease in the maximum city. Similarly, Richa Chadha and Ali Fazal chose to rent a sea-facing apartment during what they perceived as a 'depressed market,' showing a mix of financial savvy and emotional detachment from Mumbai's unpredictable real estate scene. Building Legacy While many rent for convenience, others, like Aamir Khan and (who still resides in his iconic Galaxy Apartments), buy to build legacy. Owning a home in Mumbai isn't just a financial decision—it's a statement. A marker of permanence in an otherwise unstable profession. For fans, these homes become landmarks—'Jalsa,' 'Mannat,' and 'Galaxy' are now Mumbai Darshan mainstays. A generational sense of belonging is rooted in these properties. In industries like Bollywood, where image is currency and stability is rare, real estate becomes more than shelter—it's a mirror of where a star sees themselves in the arc of their career. Who Is Renting and Why? 1. Professionals on Temporary Job Assignments Many tenants today are individuals who have relocated for work on short- to medium-term assignments. These are professionals employed in large or influential companies who are unsure of where they'll be posted next. As job locations shift post-appraisal or due to internal transfers, committing to property ownership doesn't make financial or practical sense. This leads to high churn in rental housing, with very few tenants staying in the same flat for more than a few years. 2. Displaced Residents from Redevelopment Projects Another significant segment of renters includes families temporarily displaced due to the redevelopment of their existing properties. These individuals rent flats while waiting for their redeveloped homes to be completed. This has added to the demand in the rental market, particularly in cities undergoing massive infrastructure and redevelopment drives. 3. Young Adults Delaying Homeownership The current generation that should be entering the housing market is largely priced out due to high real estate costs and the requirement for a substantial down payment—typically 20% of the property value. For instance, a Rs 1 crore home requires Rs 20 lakhs upfront. Building such savings early in one's career is unrealistic for most, leading them to prefer renting until they can accumulate the necessary capital. 4. Low Rental Yields for Investors Most property owners renting out high-value apartments are not professional landlords. They often earn a modest 2–3% rental yield annually. These flats were not bought with the intention of generating rental income but are typically the result of mandatory reinvestment of sale proceeds to avoid tax liabilities. 5. Historic Purchases Dominate the Rental Market The flats currently available for rent are mostly older or "historic" purchases. Owners have often moved on to better properties but choose not to sell the older ones. Reasons include their emotional attachment to the house or even the lack of urgent financial need. Such properties are retained 'just in case' and only listed for rent when lying vacant. 6. Indian Mindset Towards Real Estate In India, real estate is seen as a legacy asset, not something to frequently sell or trade. Many owners avoid selling unless absolutely necessary—such as for funding a wedding, children's education, or financial emergencies. This mentality stems from a broader cultural inclination to hold onto possessions, even unused ones, under the belief that they might be useful in the future. What should you do? In a candid chat with ETimes, Prashant Puri, Horseshoe Realty Ventures was asked, With Shah Rukh Khan reportedly renting a home, it brings up an important question: Is renting becoming more popular—even preferred—in major cities like Mumbai? What factors are influencing this trend among the urban elite and should the middle class also consider it as a more feesable option? "Yes, it's become a trend now. And if you see it microscopically, these apartments are rented by the people from the same fraternity. So there are two things which are influencing this. One, for two, three years, it doesn't make sense in context of Shah Rukh Khan. It doesn't make sense to buy an apartment because if he is going to sell it again and then he would have to invest a great majority of money to stay in that." Explaining the math behind these investments, he says, "Right now, his rent runs into so many lakhs. But what would be the capital worth of that property? Several crores, I'm guessing. So the return on investment is hardly 3%. More than that you get if you keep your money in the Bank FD. He will also enter into the trap of capital gains when he wants to shift back to Mannat." He adds, "Also, the investment which he will put in to buy a new apartment for a temporary residence. Will not appreciate that much. So paying rent is cheaper." Now we have these actors and the elite who are renting out these spaces. What benefits are there for a rented apartment versus that of an ownership when it comes to, you know, middle class? In Mumbai from a middle class segment, either they are people who are on the move or their buildings are going in for redevelopment. Rentals are going up in Mumbai is because Mumbai is entirely under redevelopment, so there is a competition going on between two groups. There are only so many flats in the city in proximity to work spaces, schools, and the demand is higher than usual because of these development projects. Hence rentals are soaring. Celebrities are known to invest in multiple properties, especially in upscale neighbourhoods. In your view, what drives this trend—personal lifestyle needs, investment strategy, or brand image? In recent months, several high-profile names—from to Gauri Khan—have reportedly sold their apartments, while , and Ranveer Singh have invested Rs 100 crore in luxury homes. What is driving this trend? "When big stars buy a real estate apartment, those become almost destination apartments. That's going to be the place where they want to live for years. When you see the smaller apartments being sold by them for Rs 10 crore, Rs 11 crore, most of these are led by capital gain issues or some could also be driven by capital gains. What is particularly prompting this? Well, the issue is with the Gen Z's and the millennials. If you go by an old book, people would work hard to create a real estate, but now I don't see that going anywhere because the younger lot is more interested in vacationing abroad, dining in expensive restaurants, basically a major portion of the fund flow is going into lifestyle choices than real estate. Rather than investing in things that are appreciating in nature, people are investing in experiences which depreciate in nature. Real estate is the most expensive asset and you can buy it only twice or thrice in your entire life. Equity Players Don't Want You to Buy a Home? According to Prashant Puri, equity market players—such as mutual fund houses, brokers, and wealth managers—are not incentivised to encourage home buying. The reason is simple, when an individual invests in real estate, that money exits the equity ecosystem. 'Today, for buying a 1 crore apartment, his 20 lakh rupees is in the market with them. The moment he buys it, that 20 lakh gets out of the market from their system… and gets into real estate, which is jammed.' This 20% down payment no longer remains investible capital—it's locked into a physical asset. Additionally, the remaining 80% is financed via a home loan, and the monthly EMI payments, which could have otherwise gone into SIPs or stock investments, are now servicing a mortgage. 'He has to pay EMI on the balance 80%. That surplus is also not going to them.' Hidden Messaging Behind 'Rent Is Better' Highlights that much of the public narrative around renting being superior to buying is not just consumer wisdom—it's strategic communication driven by financial institutions, Prashant says, 'The messaging also depends on whom it is favouring. If you demotivate them from buying, then that money doesn't go out.' By encouraging people to rent, the equity ecosystem ensures that disposable income continues to flow into market-linked instruments. This benefits fund managers, advisors, and investment platforms who depend on steady inflows. Unlike financial instruments, real estate demands significant commitment. It's illiquid, capital-intensive, and emotionally tied to long-term goals. That's why people buy homes only a handful of times in their life. 'Thrice is the maximum, twice is the minimum. So that money, once it's gone into real estate, is stuck.' Real Struggle for Entry-Level Buyers Puri points out that the rental segment is largely consumed by people just starting their careers—young professionals with uncertain futures and limited savings. He says, 'The people who are at the entry-level are major consumers of rental accommodation. They still don't know where they will be.' Even if they aspire to buy, the sheer cost burden discourages them. For instance, an Rs 80 lakh home loan would result in an EMI of Rs 80,000/month—whereas the same apartment could be rented for Rs 20,000. 'The consumer is thinking, why should I pay 80,000 per month to own when I can rent it for Rs 20,000?' This perceived gap in value plays directly into the equity industry's hands, which benefits when buyers postpone their purchase and keep investing. 'Till then, that Rs 80,000 was going into equities, but now it's going towards building of a real estate, which is going to be there for you with life,' he explains. This redistribution of funds away from equities is seen as a loss by market players, hence the reluctance to promote homeownership narratives he reasons. Luxury Buyers Don't Face This Dilemma For high-end real estate buyers—those purchasing Rs 4–8 crore apartments—this equation doesn't apply. Their cash flow is not strained, and buying a home is often part of an upgrade rather than a financial struggle. "These apartments are sold by people who have already achieved or arrived in life. Cash flow is not an issue," he says. Such buyers don't face the rent vs buy dilemma; they buy based on lifestyle preferences, not investment logic. In one of his more direct remarks, Prashant warns consumers that their financial decisions are subtly being influenced. 'Everybody's thought process is being channelised by the drivers of market.' The equity market's consistent messaging—'stay invested', 'don't stop SIPs', and 'compounding works'—is designed to retain capital, even during volatile phases. Puri predicts, 'One single jolt and everybody would be out of it. That's why the mutual fund industry keeps saying—keep investing, keep investing.' For the average person watching this spectacle unfold, the choice between renting and buying boils down to more relatable concerns: affordability, long-term goals, and lifestyle needs. Ultimately, the real estate vs equity debate boils down to capital control. Equities offer liquidity, growth, and churn. Real estate offers permanence, security, and capital appreciation over time—but at the cost of cash flow flexibility.
Economic Times
5 hours ago
- Economic Times
'Jaat' released on OTT: Where to watch Sunny Deol's latest box office hit online?
Jaat's Star-Studded Cast and Makers Box Office Performance and Reviews What's Next for Sunny Deol After making noise at the box office earlier this year, Sunny Deol's action-packed film Jaat has officially made its digital debut. The high-octane drama, which released in theatres on April 10, 2025, is now available to stream on Netflix. The platform began streaming the film from June 5 in both Hindi and shared a promo video featuring Sunny Deol himself, where he confidently declares, '@iamsunnydeol has a tareekh for you. Note kar lo, JAAT aa raha hai. Watch Jaat, out 5 June, in Hindi and Telugu, on Netflix.' The announcement video carried Sunny's trademark intensity, heightening excitement among fans who had been awaiting the OTT by Gopichand Malineni, Jaat brings together a strong cast including Sunny Deol, Randeep Hooda, Viineet Kumar Singh, Saiyami Kher, and Regina Cassandra. The film was produced by the same team behind the Pushpa franchise, marking their first venture into Hindi to the buzz, the production team has confirmed that a sequel is already in the pipeline, indicating that the story is far from was reportedly made on a massive budget of Rs 100 crore. The film successfully earned Rs 118.36 crore globally, turning out to be a box office hit. Its solid theatrical performance set the stage for a highly anticipated OTT Jaat managed to draw crowds, critics shared a mix of reactions. An ETimes review noted, 'Visually, the film holds its own. Thaman S's background score heightens the drama effectively, and the cinematography offers a gritty, lived-in aesthetic. Action sequences, while often overindulgent, are slick and impactful. The dialogues, penned by Saurabh Gupta and Sai Madhav Burra, are over-the-top and theatrical—often more memorable than the scenes themselves.'However, the same review pointed out that the narrative pacing became a concern after the interval. 'The second half drags, and the film's 153-minute runtime begins to weigh heavily. A forced item number featuring Urvashi Rautela feels unnecessary and only adds to the film's bloated feel.'On the professional front, Sunny Deol is not slowing down. After Jaat, he is preparing for the release of Border 2, the much-awaited sequel to the 1997 war you missed it in theatres, Jaat is now streaming on Netflix from June 5, 2025.
News18
5 hours ago
- News18
Coldplay's Chris Martin And Dakota Johnson Break Up After 8 Years: 'It Feels Final This Time'
Last Updated: They were photographed holding hands in Mumbai during Coldplay's tour in January 2025. During the same trip, the couple also attended the Maha Kumbh Mela in Prayagraj. After nearly eight years together, Coldplay frontman Chris Martin and actress Dakota Johnson have reportedly called it quits. Sources confirmed to PEOPLE that the two have broken up, with one insider noting, 'It feels final this time." Reps for both stars have not commented on the split. Johnson, 35, and Martin, 48, had kept their relationship largely private since first being linked in 2017. However, they were also photographed holding hands in Mumbai during Coldplay's tour in January 2025. During the same trip, the couple also attended the Maha Kumbh Mela in Prayagraj, marking a rare and spiritual public appearance together. Just two weeks ago, the pair were seen in Malibu, sparking no visible signs of trouble. Earlier this year, an insider revealed to PEOPLE that the couple had been 'engaged for years" but were in 'no rush to get married." Engagement speculation had first surfaced in 2020. In August 2024, when breakup rumors started swirling, Johnson's team had denied the claims, confirming the couple was 'happily together." A source at the time said, 'Sure, they've had issues and taken breaks in the past, but things are great now. They are balancing things the best they can." Despite their on-again, off-again phases, another source in June 2024 confirmed they were 'definitely back on." Johnson had formed a close bond with Martin's children – Apple and Moses – from his previous marriage to Gwyneth Paltrow. She once told Bustle, 'I love those kids like my life depends on it. With all my heart." She also gushed about watching Martin perform: 'I could watch him every day. I feel like I'm watching my most favorite being do his most favourite thing." While no official reason has been shared, sources suggest this breakup feels more permanent than their earlier separations. First Published:
