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Actor Vicky Kaushal has renewed the lease on his 2,781 sq ft sea-facing apartment in Mumbai's Raj Mahal project, paying INR 17.01 lakh monthly rent for two years and INR 17.86 lakh in the third, totaling INR 6.2 crore over three years. The deal includes a INR 1.75 crore deposit and three parking spots. This move reflects a growing trend among Bollywood celebrities choosing high-end rentals over ownership for flexibility and access to prime locations. With Juhu remaining a celebrity hotspot, the trend is shaping Mumbai's luxury real estate market towards premium rental offerings over outright purchases.
Bollywood actor Vicky Kaushal has renewed the lease on his sea-facing apartment in Mumbai's Juhu area, highlighting a growing trend among celebrities favoring rental properties over ownership in the city's high-end real estate market. Advertisement
Kaushal's renewed lease, registered in April 2025, spans three years starting from January 2025. The monthly rent is set at INR 17.01 lakh for the first two years, increasing to INR 17.86 lakh in the third year, totaling approximately INR 6.2 crore over the lease term. The apartment, located in the Raj Mahal project, covers a carpet area of 2,781.83 sq ft and includes three car parking spaces. The transaction involved a stamp duty payment of INR 1.69 lakh and registration charges of INR 1,000, with a security deposit of INR 1.75 crore.
Kaushal's decision aligns with a broader pattern among Bollywood celebrities who opt to rent properties in Mumbai's upscale neighborhoods. Factors influencing this choice include the desire for flexibility, access to premium locations, and the high cost of property ownership in the city. For instance, actors like Kriti Sanon and Kartik Aaryan have also chosen to rent properties in Mumbai.
Juhu remains a sought-after residential area for members of the film industry, offering proximity to studios, the airport, and the Arabian Sea. The neighborhood is home to several celebrities, including Varun Dhawan, Janhvi Kapoor, and Shradha Kapoor.
The preference for renting among high-profile individuals suggests a shift in the luxury real estate market, where flexibility and location take precedence over ownership. This trend may influence property developers and investors to focus on high-end rental offerings to cater to this demographic.
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