Amitabh Bachchan rents out commercial space for annual rental of ₹2.07 cr

Actor Amitabh Bachchan has leased four office units in Mumbai's Lotus Signature building to Warner Music Pvt Ltd for a monthly rent of ₹17.30 lakh, which will increase to ₹19.90 lakh after 36 months. The lease agreement will earn Bachchan an annual rent of ₹2.07 crore for the first three years, increasing to ₹2.38 crore for the fourth and fifth year. The lease commences from March 2024 and includes 12 dedicated parking spaces. Other Bollywood actors, including Kartik Aryan, Manoj Bajpayee, Sarah Ali Khan, Ajay Devgn, and Kajol, have also purchased office spaces in the same building.

Mumbai: Actor Amitabh Bachchan, who purchased four office units in Lotus Signature building in Oshiwara in September this year for ₹28.73 crore, has leased them to Warner Music Pvt Ltd for a monthly lease rent of ₹17.30 lakh, which will escalate to ₹19.90 lakh after 36 months.

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The commercial units on the 21st floor of the 28-storey Lotus Signature office tower on Veera Desai Road in Andheri span across a carpet area of 10,180 sq ft and according to the deal, Warner Music will pay rent at ₹170 per sq ft for the first 36 months, and it will be escalated to ₹195.50 per sq ft in the final 24 months of the five-year agreement signed on November 30, according to the registration documents accessed by Propstack.com.

The lease agreement will fetch the actor an annual rent of ₹2.07 crore for the first three years and will increase to ₹2.38 crore for the fourth and fifth year of the lease. The lease commences from March 2024 and the lessee paid a security deposit of ₹1.03 crore. The deal also includes 12 dedicated stack parking spaces, according to the documents.

Apart from Bachchan, actors Kartik Aryan, Manoj Bajpayee, Sarah Ali Khan, Ajay Devgn and his wife Kajol have also purchased office spaces in the same Lotus Signature tower this year. Bollywood stars have been investing in commercial real estate which gives better rental yields than residential.