Shah Rukh Khan will get crores from the govt — here’s why – CNBC TV18

Shah Rukh Khan will get crores from the govt — here’s why – CNBC TV18

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SUMMARY

Shah Rukh Khan will receive a ₹9 crore refund from the Maharashtra government as a result of a mathematical error made by the Mumbai suburban collectorate when calculating the ownership conversion premium of Mannat.

Profile imageBy CNBCTV18.com January 25, 2025, 6:34:34 PM IST (Published)
Mannat is the residence of Shah Rukh Khan and Gauri Khan

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Bollywood actor Shah Rukh Khan will receive a ₹9 crore refund from the Maharashtra government as a result of a mathematical error made by the Mumbai suburban collectorate when calculating the ownership conversion premium of his sea-facing bungalow, Mannat. (Image CNBCTV18.com file)

Mannat./Reuters

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The Bai Khorshed Bhanu Sanjana Trust granted the actor a 99-year lease on the grade III heritage home in 2001. Khan built a multi-story annexe behind the bungalow that serves as the family’s primary residence because structural changes to the building are prohibited by heritage laws. (Image Reuters)

Mumbai: Actor Shah Rukh Khan along with son AbRam Khan greets his fans from his residence - Mannat on his 53rd birthday in Mumbai on Nov 2, 2018. (Photo: IANS)

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The property was transferred in the names of Shah Rukh and Gauri Khan through a legal agreement. Due to the bungalow’s location on collector’s land, the state had to pay a levy on unearned income, which is a per cent of the difference between the market price and the ready reckoner price. (Image IANS)

Shah Rukh Khan and Wife Gauri Khan

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The Khans then changed the ownership of the leased property (Class 2) to full ownership (Class 1) in 2019, which required them to pay a premium of ₹27.5 crore. (Image Reuters)

Shah Rukh and Gauri Khan with their children Aryan, Suhana and AbRam

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However, according to the suburban deputy collector Satish Bagal, the premium was calculated based on both the construction costs and the land value, instead of the value of the land. ( Image X)

Shah rukh mannat ./Image Instagram

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In September 2022, the calculation error was discovered by the Khans; following this, Gauri Khan filed an appeal to the collector for a refund, which has now been approved. “We are awaiting the formal government order after which we will refund the excess ₹9 crore charged from Shah Rukh Khan,” Bagal told Hindustan Times. (Image Instagram)

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On the professional front, Shah Rukh Khan will next appear in the film ‘King’. Directed by Sujoy Ghosh, this upcoming film will also feature his daughter Suhana Khan in the lead role. (Image X)

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