Shah Rukh Khan to get Rs 9 crore refund from state for Mumbai residence Mannat

Superstar Shah Rukh Khan will reportedly get a refund of 9 crore from the state due to a calculation error made by the Mumbai suburban collectorate. The error occurred during the process of converting the lease on his sea-facing home Mannat to full ownership.

Shah Rukh Khan had bought the grade III heritage bungalow in 2001. It was purchased on a 99-year lease from the Bai Khorshed Bhanu Sanjana Trust. But because heritage laws had restricted any structural modifications and changes to the original building, Khan got a multi-storey annexe built behind the bungalow. This serves his family's essential residence.

As per Shah Rukh Khan, the amount stands for over-payment that was made to the Collector of the Mumbai Suburban District (MSD) for the land on which Mannat is situated. The vast bungalow, jointly which is owned by the actor and his wife, Gauri Khan, at Bandstand, Bandra West, is built on Bandstand, Bandra West. The land was originally leased by the state government to the previous owner, who later sold the property to the Khans after receiving government approval. The couple applied for a refund of the excess payment made for the land where Mannat now stands.

Mannat covers an area of 2,446 square meters and is registered in the names of Gauri and Shah Rukh Khan. Before the property was transferred to SRK and Gauri, the state, as the original titleholder, had imposed its share of "unearned income." This amount was calculated on the basis of the property's market value and ready reckoner price.

Later, SRK and Gauri decided to take advantage of the state government policy that allowed the conversion of leasehold properties (Class 2) into freehold properties (Class 1). Years ago, in March 2019, the couple had paid 25% of the ready reckoner price. It had amounted to approximately Rs 27.50 crore, in line with the policy.

Going by the sources, the Khans found an error due to an "unintentional error" that was made by the state government while the conversion fee was being calculated. It is believed that during the calculation, the value of the bungalow was mistakenly taken into consideration and not just the land.