Jeetendrawho was once one of the most bankable and highest-paid actors in Bollywood, has also made a name for himself as a real estate developer over the years. His foray into the real estate business, however, began with a surprising deal involving a well-known actor Bharat Bhushanwhose economic downturn forced him to sell his expensive Pali Hill home for a fraction of its current value.Bhushan, a former Baiju Bawra celebrity, was struggling with financial problems when he sold a large plot of land to Jeetendra for Rs 4.25 lakh. After losing most of his wealth, the former actor was forced to give up his house and cars before dying of poverty.The land on which the bungalow stood is now said to be worth around Rs 450 crore. Ironically, despite getting the property at an incredible price, Jeetendra left soon after because he associated it with the box office failure that followed the purchase.Jeetendra recalled how the opportunity came unexpectedly. He said in an interview with The Reality Drive, “There was this big star in those days who did films like Baiju Bawra. He came to me with an offer to buy his Pali Hill bungalow. When I spoke to my father, he said, ‘Let’s buy a bungalow too.’ Until then, we were living an average day. I lived in a 20×10 room; eight people sat together in a chawl in Girgaum. So buying a bungalow was a big deal for me. “The former actor said he bought the bungalow, which stood on a 3,450-square-foot plot, for Rs 4.25 lakh. “Finally I bought a bungalow for Rs 4.25 lakh. The most surprising thing was that it came with a plot of 3,450 sq ft for the same price. We moved there, but suddenly my four films were shaken. 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 even starts.“My father agreed, and we moved.”At the same time, Jeetendra also invested in other properties in Cuffe Castle, where he bought floors at Rs 55 per square foot. Although he left the Pali Hill bungalow because he believed it brought him bad luck, the investment turned out to be one of the most profitable decisions of his life. Later when a designer approached him with the idea of renovation, Jeetendra agreed without hesitation.“Then someone approached me to renovate the bungalow. I agreed. You won’t believe it, but when it was demolished, I got Rs 11.5 lakh for the Burmese teak used in the construction. I bought the whole bungalow for Rs 4.25 lakh and got Rs 11.5 lakh for the timber alone.” The money he got from selling the Burmese teak alone was almost three times what he had originally paid for the whole estate, even before the land was reclaimed.In retrospect, Jeetendra felt that Bharat Bhushan was forced to make a decision because of his financial situation. “Imagine how naive Bharat Bhushan was to sell such a valuable property for Rs 4.25 lakh. He was in deep trouble and missed a great opportunity. He could have got something different from the land and the house, but he completed the whole job in just two days.”That experience, he says, laid the foundation for his lifelong interest in landscape development. “Later, I redeveloped the property into Gautam Apartments. I sold the flats at Rs 85 per square foot because I was in a hurry. I was worried that no one would buy them later.” Her son, actor Tusshar Kapoor, revealed how the property’s value has appreciated over time. “Today, accommodation there is selling at around Rs 85,000 per square foot.“Jeetendra added, “The land alone the building is on is worth around Rs 450 crore.” According to property portal NoBroker, Gautam Apartments, located on Nargis Dutt Road in Mumbai’s Pali Hill neighborhood, has 82 two-bedroom apartments of 1,175 square meters each. According to Jeetendra’s account, the flats were sold at around Rs 1 lakh each, resulting in a turnover of Rs 82 lakh. Combined with the Rs 11.5 lakh he earned from selling Burmese teak, reclamation became a very profitable business.Over the years, the value of this property has increased. Today, the public rooms at Gautam Apartments are valued at several crores, while the property is said to be worth around Rs 450 crore, taking the total cost of the building to over Rs 500 crore.