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Rajesh Khanna’s Final Act: The Rs 600-Crore Estate, Estrangement, and Enduring Legacy

By Amrita Bhatia , 21 May 2025
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Rajesh Khanna, India’s first cinematic superstar, left behind a legacy as complex as his life. Just a month before his passing in July 2012, Khanna quietly revised his will, entrusting his vast estate—valued at approximately Rs 600 crore, including the iconic Aashirwad bungalow—exclusively to his daughters Twinkle and Rinke. Estranged wife Dimple Kapadia was notably excluded, a move that sparked legal battles and widespread speculation. This article explores Khanna’s extraordinary rise, his fractured personal relationships, and the lasting impact of his estate decision on Bollywood’s narrative and financial landscape.

The Phenomenon of Rajesh Khanna: India’s First Superstar

Between 1969 and 1972, Rajesh Khanna dominated Hindi cinema with an unprecedented streak of 15 consecutive solo hits—a record that remains unbroken. His signature style, including the famed “guru kurta,” ignited nationwide fashion trends, and his charisma transcended the silver screen, turning trains into moving fan rallies and newspapers into repositories of love letters from admirers. His wedding to teenage actress Dimple Kapadia in 1973 captivated a nation, epitomizing Bollywood’s fairy-tale glamour and the star power that shaped India’s cultural heartbeat.

From Stardom to Estrangement

Khanna’s career trajectory began to decline post-1975 as Amitabh Bachchan’s “angry young man” persona captivated audiences, relegating Khanna to a secondary role. Concurrently, his marriage to Kapadia faltered amid growing personal and professional pressures. By 1982, the couple separated, and by 1984, Kapadia had moved out with their daughters, Twinkle and Rinke. Despite their estrangement, the couple never legally divorced, maintaining a fragile truce underscored by Khanna’s insistence that family portraits remain prominently displayed in his famed Carter Road residence, Aashirwad.

The Rs 600-Crore Will: A Legal and Emotional Coup

Facing terminal cancer in late 2011, Khanna meticulously revisited his estate planning. In a move that shocked Bollywood, he excluded Dimple Kapadia from his final will, bequeathing his entire estate—an estimated Rs 600 crore including Aashirwad—solely to their daughters. Under Hindu Succession law, daughters are primary heirs, but spouses typically retain rights unless explicitly excluded. Khanna’s clear legal language ensured Kapadia’s exclusion, reflecting emotional distance and perhaps acknowledgment of her financial independence and thriving career as an actress and producer.

The Anita Advani Controversy

In the wake of Khanna’s will disclosure, longtime companion Anita Advani emerged, claiming rights to a share of the estate based on her decade-long association with the star. Advani’s legal challenge, invoking the Domestic Violence Act and citing financial promises, ended in dismissal due to lack of evidence. This unprecedented legal battle involving a Bollywood icon added layers of public intrigue and illuminated the complexities of personal relationships intersecting with inheritance law in India’s celebrity milieu.

The Fate of Aashirwad: From Iconic Residence to Nostalgic Memory

Aashirwad, Khanna’s sea-facing bungalow on Carter Road, was more than a residence—it was a cultural landmark. Purchased in 1969 for Rs 3.5 lakh and sold in 2014 for Rs 95 crore to businessman Shashi Kiran Shetty, the bungalow was subsequently demolished, provoking widespread lament among cinephiles. Originally owned by actress Mumtaz, Khanna renamed it after his blockbuster film “Aashirwad,” symbolizing his cinematic and personal legacy.

Dimple Kapadia’s Grace Under Fire

Despite her exclusion and the public controversy, Dimple Kapadia maintained a dignified silence, refraining from legal retaliation or public acrimony. She consistently expressed respect for Khanna’s legacy, emphasizing the enduring affection and admiration she holds for the man behind the superstar persona. Her measured response further endeared her to the public and preserved her stature as a formidable actress and producer.

Legacy Beyond Wealth

Twinkle Khanna, an accomplished author, interior designer, and producer, and Rinke Khanna, who prefers a low-profile life focused on wellness ventures in the UK, remain the custodians of their father’s legacy. Rajesh Khanna’s cinematic oeuvre, comprising over 180 films, continues to captivate audiences, with digital platforms seeing seasonal spikes in viewership, particularly on the anniversary of his passing.

Conclusion: A Legend’s Final Curtain Call

Rajesh Khanna’s life story, culminating in the dramatic revision of his will, reflects the intricate tapestry of fame, family, and fortune. His Rs 600-crore estate controversy underscored the intersection of personal relationships and legal frameworks within India’s celebrity culture. More enduring, however, is Khanna’s transformation of Indian popular culture—from inspiring fashion to redefining stardom—ensuring that while his physical legacy may shift, his legend remains indelible.

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  • Bollywood
  • Indian Celebrities
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