Bollywood actor Abhay Deol has had to mortgage his Juhu flat to take care of his financial worries. A public notice in this regard has been published.
<img title="Abhay Deol's flat in Juhu" src="http://images.mid-day.com/images/2014/mar/Juhu-society.jpg" alt="Abhay Deol's flat in Juhu" /> The Juhu society in which Abhay Deol (below) owns the flat that he has mortgaged. Pic/Sameer Markande
The apartment is located in Pandurang Co-operative Housing Society in Pandurang Wadi, Juhu. While no specific details of the loan amount are available, the evaluation of the flat won&rsquo;t be more than Rs 2-3 crore.
<img title="Abhay Deol" src="http://images.mid-day.com/images/2014/mar/Abhay-Deol.jpg" alt="Abhay Deol" />
Sources said his monetary woes are a result of his maiden production One By Two doing terribly at the box office. Besides this, the film couldn&rsquo;t earn money off its music, because the producers had a tussle with the record label over contract issues.
The expenditure on the film was Rs 8 crore; Deol produced it with five other people. Confirming the matter, the actor said, &ldquo;I have availed a loan for which I had to give papers for this property as surety.&rdquo; A source close to Deol added, &ldquo;He is currently residing in another house of his in Santacruz. He is redoing his Goa property.&rdquo;
If he fails to repay the loan, the bank would declare his property as a Non-Performing Asset, seize it, and later auction it off. According to sources in the real estate industry, the flat is a 2BHK and its market rate is R3-4 crore. The price in the neighbourhood is higher for apartments that face the sea.
Rs 8 crore Amount producers spent on the film

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Bollywood actor Abhay Deol is facing financial problems after his maiden production 'One By Two', flopped miserably. The star has availed of a loan against his property in Juhu, Mumbai

Broke Abhay Deol mortgages Juhu flat after film tanks at box office

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Home / Entertainment / Bollywood News / Article / Broke Abhay Deol mortgages Juhu flat after film tanks at box office

Broke Abhay Deol mortgages Juhu flat after film tanks at box office

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