News & Views on Indian Real Estate

Wednesday, June 04, 2008

Stars ride realty 'brand wagon'

Bollywood celebrities don't just peddle dreams but also dream homes. Real estate developers are now banking on the star power of the likes of Shah Rukh Khan, Amitabh Bachchan and Aishwarya Rai to endorse their projects. Deepika Padukone is the latest to join these marquee names. Aspire Real Estate, a Dubai-based developer, has signed up the actress as its brand ambassador. 'We are targeting India, and Deepika will add to our brand equity,' said an Aspire spokesperson. The trend of celebrities - from tinsel town and outside - endorsing real estate projects started around two years ago. So while big banner draws such as Shah Rukh, Aishwarya, Bachchan or even sarod maestro Amjad Ali Khan and his sons represent the likes of DLF, Sahara and Omaxe, a host of smaller developers too have started signing up celebrities to cut across the clutter. There are many who aver that stars are being signed up more in an attempt to build brands than to propel sales. A project sells on its own strength, so basically celebrities are adding to the developer's brand equity.