Jeetendrawho was once one of Bollywood’s most bankable and highest paid stars, has also built a successful reputation as a real estate developer over the years. His entry into the real estate business, however, began with a remarkable deal involving the legendary actor Bharat Bhushanwhose financial downfall forced him to sell his prized Pali Hill bungalow for a fraction of its current value.Bhushan, celebrated for classics like Baiju Bawra, was struggling with serious financial difficulties when he sold the sprawling property to Jeetendra for just Rs 4.25 lakh. Having lost much of his fortune, the veteran actor was forced to part with his bungalow and cars before finally dying in poverty.The land where the bungalow stood is now estimated to be worth around Rs 450 crore. Ironically, despite acquiring the property at an incredible price, Jeetendra moved out soon after associating it with a string of box office flops that followed the purchase.Jeetendra recalled how the opportunity came to him unexpectedly. He said in an interview to The Reality Drive, “In those days there was this big star who had done films like Baiju Bawra. He came to me with the offer to buy his Pali Hill bungalow. When I spoke to my father, he said, ‘Let’s buy a bungalow too’. Till then, we had lived a very lower-middle-class life. I used to live in a 20×10 room; eight people stayed together in a chawl in Girgaum. So buying a bungalow was very important to me.”The veteran actor said he eventually bought the bungalow, which was on a 3,450 sq ft plot, for Rs 4.25 lakh. “I finally bought the bungalow for Rs 4.25 lakh. What was even more shocking was that it came with a 3,450 sq ft plot at the same price. We moved there, but suddenly four of my films flopped. I told my father, ‘Bharat Bhushan ran away from here, now I think it’s my turn.’ If this continues, my career will be over before it has even properly begun.“My father agreed and we moved in.”Around the same period, Jeetendra also invested in another property in Cuffe Castle where he bought a flat for just Rs 55 per sq ft. Although he left the Pali Hill bungalow because he believed it brought him bad luck, the investment eventually turned out to be one of the most rewarding financial decisions of his life. When a developer later approached him with a redevelopment proposal, Jeetendra accepted without hesitation.“Later, someone approached me to redevelop the bungalow. I agreed. You won’t believe this, but when it was demolished, I got Rs 11.5 lakh just for the Burmese teak used in its construction. I had bought the entire bungalow for Rs 4.25 lakh and I made only Rs 11.5 lakh from the wood.” The earnings from selling the Burma teak alone were nearly three times what he had originally paid for the entire property, even before the land itself generated returns.Looking back, Jeetendra felt that Bharat Bhushan had been forced into an unfortunate decision due to his financial circumstances. “Imagine how naive Bharat Bhushan was to sell such a premium property for Rs 4.25 lakh. He was in a very difficult situation and lost a huge opportunity. He could have earned separately from the land and the building, but he closed the entire transaction in just two days.”The experience, he says, laid the groundwork for his long-standing interest in real estate development. “Later, I redeveloped the property into Gautam Apartments. I sold the flats for Rs 85 per sq ft because I was in a hurry. I was worried no one would buy them later.” His son, actor Tusshar Kapoor, highlighted how the property’s value has appreciated dramatically over time. “Today, flats there sell for around Rs 85,000 per square metre.“Jeetendra added, “Just the land on which the building stands is worth almost Rs 450 crore.” According to real estate portal NoBroker, Gautam Apartments, located on Nargis Dutt Road in Mumbai’s posh Pali Hill neighborhood, consists of 82 two-bedroom apartments measuring approximately 1,175 square feet each. According to Jeetendra’s account, the flats were sold for nearly Rs 1 lakh each, generating estimated sales of Rs 82 lakh. Combined with the Rs 11.5 lakh realized from the sale of Burma teak, the redevelopment became an exceptionally profitable venture.Over the decades, the value of the property has multiplied many times. Today, individual apartments in Gautam Apartments are valued at several crores, while the land itself is estimated to be worth around Rs 450 crore, bringing the overall value of the property to over Rs 500 crore.