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From Imran Khan to Katrina Kaif, why some Bollywood stars prefer to stay on rent rather than buy an apartment in Mumbai
Imran Khan, Kriti Sanon, Kartik Aaryan, Vicky Kaushal, Katrina Kaif are among Bollywood stars that are staying in rented properties in Mumbai.
Bollywood actor Imran Khan and his girlfriend Lekha Washington recently leased a flat in Mumbai’s Bandra area from film producer Karan Johar at a monthly rent of ₹9 lakh for three years.
Besides Khan there are quite a few actors who have taken apartments on rent such as Kriti Sanon, Kartik Aaryan, Vicky Kaushal and Katrina Kaif among others. There have also been instances of Bollywood actors investing in real estate only for the purpose of renting their properties.
According to the Leave and License agreement shared by Zapkey, Imran Khan has taken a three-storey apartment located in Clefepete on Carter Road, Bandra, on rent from Karan Johar. The agreement was registered on March 20, 2024 and a security deposit of ₹27 lakh on the deal.
Why do Bollywood actors rent instead of buying an apartment?
A few actors, who may be in a position to afford a house, may still prefer to rent because of specific individual choices such as a sea-facing view in a particular location. It may also be because the apartment of their choice is not available for sale
“So the next best option is to rent. Yet another reason is unstable income because of which they may not want to commit to a large outgo on purchase. They, therefore, prefer to spend a high amount on rent rather than purchasing an apartment,” said Sandeep Reddy, co-founder of Zapkey.
According to Ritesh Mehta, senior director and head, West and North, Residential Services and Developer Initiatives, JLL, several Bollywood celebrities prefer premium sea-facing apartments that may not be easily available for sale in the location of their choice.
“They first prefer to take the flat on lease but keep scouting for the right fit. Once they find the apartment of their choice, they eventually buy it. There have also been cases wherein newcomers first decide to take a house on rent as they may not be able to afford an apartment at the start of their careers. Besides, their earnings are not regular and they may not prefer committing to regular EMIs. Having said that, there are actors who buy apartments only to rent them out for rental income,” he explained.
Bollywood actors who have taken apartments on rent
Bollywood actor Tiger Shroff recently bought a property for ₹7.5 crore in Pune and leased it immediately for ₹3.5 lakh per month, documents accessed by Zapkey had shown.
Also Read: Tiger Shroff buys property in Pune for ₹7.5 crore; leases it immediately for ₹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 ₹4 lakh for three years, according to documents accessed by Zapkey. The tenant, Duro Shocks Pvt. Ltd had paid a refundable security deposit of ₹24 lakh as part of the deal.
Last year, Salman Khan had leased a flat in Bandra West in Mumbai for a monthly rent of ₹1.5 lakh per month for three years. The tenant had paid a deposit of ₹4.5 lakh.
Also Read: Jacqueline Fernandez moves into Priyanka Chopra's old house, worth ₹7 cr: report
In 2021, Amitabh Bachchan had rented out a duplex to Kriti Sanon for ₹10 lakh per month for which the actress had paid ₹60 lakh in deposit. Shahid Kapoor had also rented his sea-facing home in Mumbai's Juhu to Kartik Aaryan for ₹7.5 lakh a month.
Property brokers point out that while several established Bollywood stars own swanky properties in posh Mumbai neighbourhoods, several upcoming actors who come to Mumbai to work, do not rush into buying property. They initially take up properties on rent.
In 2022, actor Madhuri Dixit and her husband Dr Shriram Nene had rented a new home in Mumbai. The house was in a high-rise building in Mumbai's posh locality, Worli.
In another deal of February 2023, actress Aditi Rao Hydari had taken an apartment on rent from actress Malaika Arora at a monthly rent of ₹2.31 lakh and a deposit of ₹20 lakh for three years, according to Zapkey.com
In 2021, Bollywood actor Kajol had rented an apartment in Mumbai for two years for ₹90,000 a month. The 771 sq ft apartment was located in the Atlantis project in Hiranandani Gardens in Powai, the documents had shown.
In August 2021, Saif Ali Khan had rented his apartment located in Bandra, Mumbai, for ₹3.5 lakh per month.
Also Read: Kartik Aaryan leases Juhu apartment from Shahid Kapoor
