India, March 14 -- When a well-known Bollywood celebrity buys a home in a building, it often brings a burst of attention to the project and the surrounding micro-market, with media coverage and social media chatter drawing curious buyers and brokers alike. The presence of a famous resident can also add an aura of exclusivity, with some homebuyers associating celebrity neighbours with enhanced prestige, security and a premium lifestyle-factors that can help position a building as a sought-after address.

However, real estate experts caution that the effect is usually more about perception than pricing power. Property values, as always, are largely determined by fundamentals such as location, the developer's reputation, amenities, connectiv...