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Cricketer Rohit Sharma and his father, Gurunath Sharma, have rented out their 1,298 sq ft apartment in Lodha Marquise, Lower Parel, for INR 2.6 lakh per month. The lease, registered on January 27, was signed with businessman Murali Krishnan Nair and includes two parking spaces. Sharma bought the property for INR 5.45 crore in 2013 and has been expanding his real estate portfolio, leasing two Bandra apartments in January 2024 for INR 3 lakh monthly. His strategic investments reflect Mumbai's rising rental demand in luxury housing, with celebrity transactions influencing market trends in prime locations.
Cricketer Rohit Sharma and his father, Gurunath Sharma, have recently rented out their apartment in Lower Parel, Mumbai, for a monthly rent of INR 2.60 lakh. This transaction, registered on January 27, highlights the growing trend of high-profile individuals engaging in the real estate market in Mumbai, a city known for its competitive property landscape. Advertisement
The apartment is located on the 45th floor of the Lodha Marquise, part of The Park project developed by the Lodha Group. It spans 1,298 square feet and includes two parking spaces. The lease has been signed with Murali Krishnan Nair, a notable figure in the local business community. The registration documents indicate that a stamp duty of INR 16,300 and a registration fee of INR 1,000 were paid for this transaction.
Rohit Sharma, who is the captain of the Indian cricket team, has been active in the real estate market over the years. In July 2013, he purchased this apartment for INR 5.45 crore, demonstrating his investment in prime Mumbai real estate. This recent rental agreement adds to his growing portfolio, which includes other properties in the city.
In January 2024, Sharma leased two apartments in Bandra West for a total of INR 3 lakh per month. The rental agreement is structured to increase gradually over three years, starting at INR 3.1 lakh in the first year, rising to INR 3.25 lakh in the second year, and reaching INR 3.41 lakh in the third year. This approach reflects a common trend among property owners in Mumbai, where rental prices often adjust based on market conditions and demand.
Additionally, in June 2021, Sharma sold a property in Lonavala for INR 5.25 crore. This property, which covered 6,329 square feet, further illustrates his strategic approach to real estate investments. The sale and subsequent rentals indicate a well-planned portfolio management strategy, capitalizing on the high demand for luxury properties in and around Mumbai.
The rental market in Mumbai has seen significant growth, especially in upscale neighborhoods like Lower Parel and Bandra. High-profile tenants often seek luxury apartments that offer modern amenities and prime locations. This trend is not only limited to athletes but includes professionals from various sectors, reflecting the city's status as a financial and cultural hub.
As the real estate market continues to evolve, the involvement of celebrities like Rohit Sharma can have a notable impact on property values and rental trends. Their choices often influence market dynamics, attracting attention from investors and potential buyers.
In conclusion, Rohit Sharma's recent rental agreement is part of a larger pattern in Mumbai's real estate market, where high-profile individuals are increasingly active. Their investments and rental strategies can provide insights into market trends, making it an area worth monitoring for both potential investors and residents seeking housing in this vibrant city.
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