The bride wore a burgundy and red saree, embellished with Swarovsky crystals, designed by Tarun Tahiliani.
Kundra, who arrived at the wedding venue in a horse-drawn chariot, was dressed in a maroon and gold sherwani designed by Shantanu and Nikhil.
In 2009, Kundra and Shetty invested in the Indian Premier League cricket team Rajasthan Royals.
But the marriage is not without its own shares of ups and downs. Shilpa had to refute reports that her marriage was in trouble following rumours that Kundra had met a woman at a hair-transplant clinic in London and later gifted the clinic assistant a European holiday.
The actress who shot to international fame with her stint in UK reality show Celebrity Big Brother did not invite many of her Bollywood associates with only Sunny Deol, Suneil Shetty, Jackky Bhagnani and Vasu Bhagnani attending the private ceremony which was out of bounds for the media.
She had also repeatedly denied rumours in May last year that she was pregnant, until later that year when she herself confirmed the news, fed up of congratulatory messages.
Besides IPL, Raj has also joined hands with actor Sanjay Dutt to start the first professionally organised mixed martial arts fighting league - the Super Fight League - in India.
Shilpa Shetty and Raj Kundra with boxer Mary Kom. Shilpa said recently that Raj is the best life partner she could have ever wished for. He has turned her into a happier person.
Actress Shilpa Shetty and businessman Raj Kundra got married on November 22, 2009. It has been an eventful journey since then. Here's a glimpse into their married life.
In one of the most awaited weddings of tinsel town, the actress tied the knot with Raj Kundra in a lavish ceremony in Khandala. The actress wed in a traditional Mangalorean ceremony at businesswoman Kiran Bawa's villa in Khandala, 100 kms from Mumbai, in the presence of close friends and family.
The marriage combined the rituals of the Mangalorean bride and the Punjabi groom with the vows being exchanged according to South Indian tradition while pre-wedding rituals like Mehendi and Sangeet conducted as per Punjabi tradition.
Raj Kundra bought Shilpa a 7 crore flat in London. He then went on to gift her a 3000 square feet apartment in Supernova, Noida. The 80-storeyed-building is the tallest in the country.
What's next for the new mother and the busy wife? Eros International has joined hands with Shilpa Shetty to present her debut production 'Dishkiyaaoon' starring Sanjay Dutt.
Shilpa had first met Kundra soon after her surprise win at the reality show Celebrity Big Brother in 2007, which made her an internationally recognised face. The romance was not a smooth affair with Kundra's former wife Kavita publicly accusing the actress of being a home-wrecker. But after much speculation the couple finally got engaged on October 24 in a private ceremony.
Shilpa made her acting debut in Bollywood with a small role in 'Baazigar' in 1993 opposite Shah Rukh Khan and later went on to star in films like Main Khiladi Tu Anari, Dhadkan and Phir Milenge.
After her extremely special and grand baby shower, attended by her celebrity girlfriends, then pregnant actress Shilpa Shetty said she was looking forward to the new phase in her life.
The actress says she is in no hurry to lose the post-pregnancy flab. She said stars are always scrutinised for their appearances and are bound to have insecurities.
Shilpa says she is taking a break from movies to raise her son Viaan. The 37-year-old actress, who has been a part of the showbiz since a very young age, says her family has taken a front seat after the birth of her son with businessman Raj Kundra.
Shilpa gave birth to a baby boy on May 21 at the Hinduja Healthcare Surgical hospital in suburban Khar and named him Viaan Raj Kundra.