For someone who saw his Karnatakabased family business collapse in his teens, forcing him to move to Mumbai where he built an USD 800-million logistics and construction group, buying Rajesh Khanna’s sprawling bungalow on Carter Road probably ranks as the jewel in the crown.
Shashi Kiran Shetty, fifty seven, said to have finalised the deal and picked up Aashirwad, the late superstar’s iconic six thousand five hundred square feet bungalow for Rs 95 crore, is a longtime Pali Hill resident and essentially a Bandra boy, sources close to him said.
Hailing from Bantwal near Mangalore, Shetty is a commerce graduate who came to Mumbai in 1978 after his family’s oil and rice mills closed down. He started working for a shipping agency and later joined another private firm, before starting his own transport company four years later.
While Allcargo Logistics Ltd is Avvashya Group’s flagship company, Shashi Kiran Shetty recently ventured into real estate, and is constructing a super-luxury project in Mangalore. Insiders revealed there are plans to come up with a similar project in Mumbai.
Shetty is also known to be deeply religious, and funds several religious institutions. He is currently involved with construction of the ISKCON temple at Kharghar in Navi Mumbai.
Shashi Kiran Shetty is said to have bought Aashirwad for his family; wife Aarthi, teenaged son and a daughter. His team declined to comment, saying Shetty does not wish to talk about the property acquisition at this juncture. “It would take a while for the deal to come through in every way. We would like to speak about it at a more appropriate time,” said a spokesperson.
However in true Bollywood style there is drama that’s happening post the sale of Aashirwaad as Ms. Anita Advani, who claims to have been Rajesh Khanna’s live-in partner for ten years, has alleged that the sale was illegal. She has also staked a claim in Rajesh Khanna’s property.
“Since the matter is under litigation, anybody buying or selling the bungalow will incur criminal liability,” stated Anita Advani. She said she would file a notice in court against the sale within fourteen days. Days before Rajesh Khanna’s death in July, 2012, Ms. Advani, who is a designer, had claimed that she had been his live-in partner.
It was Vardan Aashirwad where Rajesh Khanna scripted his journey into stardom and greeted legions of fans who would wait outside it for hours just to catch a glimpse of the superstar. After having it re-built, he named it Aashirwad. The bungalow was renamed Vardan Aashirwad soon after his death as per his last wishes.
Shashi Kiran Shetty, who bought Rajesh Khanna's bungalow for Rs 95 crore, has became the man with the golden touch. For someone who saw his Karna...1.0