Bollywood superstar Shah Rukh Khan is set to receive a ₹9 crore refund from the Maharashtra government following an overpayment error in the conversion fee calculation for his iconic residence, Mannat. The Mumbai Suburban District collectorate discovered the miscalculation, which occurred during the property's ownership transfer process.
Background of Mannat
Mannat, a luxurious sea-facing bungalow in Mumbai, spans over 2,446 square meters and is classified as a Grade III heritage property. Shah Rukh Khan and his wife, Gauri Khan, officially leased the property in 2001. In 2019, they decided to convert the property from leased (class 2) to freehold ownership (class 1), paying a premium of ₹27.5 crore as per state policy.
The Error and Refund Process
The error occurred when the government calculated the conversion fee based on the bungalow's value rather than just the land. This mistake led to Shah Rukh Khan paying an excess amount of ₹9 crore. After identifying the error, Gauri Khan filed an appeal for a refund, which has now been approved by the collectorate.
Significance of Mannat
Mannat holds significant cultural and heritage value and has become synonymous with Shah Rukh Khan's iconic status in the entertainment industry. Despite its heritage status, the Khans constructed a multi-storey annex behind the main bungalow, now serving as their primary residence.
The refund marks a significant development for Shah Rukh Khan, resolving a complex legal and financial issue. It highlights the importance of accurate calculations in property transactions and the impact of such errors on individuals, even those as prominent as Shah Rukh Khan.