Bollywood actor Shahid Kapoor rents out Mumbai apartment for Rs 20 lakh/month

PTI, Nov 13, 2024, 9:41 AM IST

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New Delhi: Bollywood actor Shahid Kapoor and his wife have given on rent a luxury apartment in Mumbai for over Rs 20 lakh per month, according to Square Yards.

The apartment, originally purchased in May 2024 for Rs 58.6 crore, was jointly acquired by Shahid and Mira Kapoor.

In a statement on Tuesday, real estate consultant Square Yards said Kapoor recently rented out the luxurious apartment in ‘Three Sixty West’ project at Worli.

The property spans 5,395 square feet of carpet area and 6,175.42 sq ft of built-up area, with three dedicated car parking spaces.

The project ‘Three Sixty West’, developed by Oberoi Realty, is a high-end residential project spread over 1.58 acres, offering 4 and 5 BHK ready-to-move-in apartments.

The lease agreement, registered in November 2024, is for a tenure of 60 months with an initial security deposit of Rs 1.23 crore.

The property will generate an average gross rental yield of 4-5 per cent, it said.

The lease follows a tiered rental structure, starting at Rs 20.5 lakh per month and gradually increasing to Rs 23.98 lakh by the end of the term in five years. Additionally, the agreement includes a rent-free period for the first 10 months.