Bollywood actor Imran Khan and girlfriend Lekha Washington have leased a sea-facing apartment in Bandra from producer Karan Johar for three years, joining a trend among celebrities preferring luxury rentals in Mumbai. The Clefepete apartment costs INR 9 lakh per month with a INR 27 lakh security deposit. Similarly, stars like Kriti Sanon, Vicky Kaushal, and Katrina Kaif opt for leased accommodations rather than purchasing a property. Some actors, like Tiger Shroff and Ranbir Kapoor, have purchased real estate as an investment. With Mumbai's real estate prices high, renting offers flexibility and quality living spaces for celebrities, ensuring the continued popularity of luxury rentals in prime Mumbai locations like Bandra and Juhu among Bollywood stars.
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Bollywood actor Imran Khan and his girlfriend Lekha Washington recently signed a three-year lease for a sea-facing apartment in Bandra from film producer Karan Johar. Located in Clefepete, the three-storey apartment costs INR 9 lakh per month in rent with a security deposit of INR 27 lakh, as per Zapkey. Khan was previously living in his bungalow at Pali Hill, Bandra.
Many Bollywood celebrities prefer renting luxury apartments in Mumbai rather than buying properties. For instance, in 2021, Kriti Sanon rented Amitabh Bachchan's duplex for INR 10 lakh per month, paying a deposit of INR 60 lakh. After marrying in 2021, Vicky Kaushal and Katrina Kaif also moved into a rented apartment in Juhu, paying INR 8 lakh monthly rent and a INR 1.75 crore deposit. Actor Kartik Aaryan also leased a sea-facing home in Juhu from Shahid Kapoor for INR 7.5 lakh per month.
In 2023, Aditi Rao Hydari rented Malaika Arora's apartment for INR 2.31 lakh per month and an INR 20 lakh deposit over three years. Jacqueline Fernandez previously paid INR 6.78 lakh monthly to lease Priyanka Chopra's former apartment. Kajol rented out her Powai apartment for two years at INR 90,000 per month. That same year, Saif Ali Khan leased his Bandra flat for INR 3.5 lakh monthly rent.
Even though some actors may be able to afford purchasing a home, they still prefer renting due to specific personal preferences. For example, they may want a sea-facing apartment in a particular desirable location like Bandra. It could also be because the apartment they want is not currently for sale. Bandra remains a popular area for celebrities, so it is common for other actors to lease properties in the neighborhoods of Bandra and Khar.
There have also been instances of Bollywood actors investing in real estate only for the purpose of renting their properties. Bollywood actor Tiger Shroff recently bought a property for INR 7.5 crore in Pune and leased it immediately for INR 3.5 lakh per month.
In 2023, Bollywood actor Ranbir Kapoor had leased a residential unit located in Trump Towers in Pune for a monthly rent of around INR 4 lakh for three years, according to documents accessed by Zapkey. Salman Khan had also leased a flat in Bandra West in Mumbai for a monthly rent of INR 1.5 lakh per month for three years.
In summary, many Bollywood celebrities prefer renting luxury apartments in prime Mumbai locations rather than purchasing properties. This allows them flexibility to change locations as needed and also afford a better living space. As Mumbai's real estate remains costly, renting remains a popular housing option for many celebrities. Going forward, leasing luxury apartments in areas such as Bandra and Juhu is likely to remain common practice among Bollywood actors.
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