Bollywood director Karan Johar has signed a three-year lease for a luxury duplex in Mumbai's Bandra West, renting a condo on the 2nd and 3rd floors of a Pali Hill tower for INR 8.10 lakh monthly, rising to INR 8.93 lakh in the third year. The total rental value over three years exceeds INR 3.06 crore. Johar also leased his Bandra apartment to actor Imran Khan for INR 9 lakh monthly. High-end properties in Mumbai's prime areas, like Bandra and Worli, are in high demand, driving up rental prices due to limited availability and the growing allure of luxury living.
Bollywood director and producer Karan Johar has signed a three-year rental agreement for a luxury duplex apartment in Mumbai's posh Bandra West neighbourhood. He has rented the condo for the apartment located on the 2nd and 3rd floors of the tower in Pali Hill's Union Park at month-to-month rentals of INR 8.10 lakh for the initial year.
In the second and third year, the monthly rent will rise to over INR 8.50 lakh and INR 8.93 lakh, respectively. The all-out rental for three years will be over INR 3.06 crore. The tenant contract was registered on August 23, according to Zapkey.com
Moreover, this isn't the only deal Johar has been engaged with this year. The director had previously let his Bandra apartment to Bollywood actor Imran Khan and his girlfriend, Lekha Washington. The couple is presently dwelling in the property for lease of INR 9 lac per month under a similar three-year arrangement.
Areas like South Mumbai, Worli, Bandra, Juhu, and Powai stay famous and regardless of the great rental rates the market sees consistent premium because of the restricted accessibility of such properties and the craving for very good quality expectations for everyday comforts. Lately, there has been a perceptible expansion in rental costs, especially in sought-after areas. This pattern is powered by a blend of restricted new stock, rising property estimations, and the developing allure of extravagance living among the city's rich occupants.
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