Actor R Madhavan Inks ₹1.6-Crore Lease Deal for BKC Apartment with BP Exploration

Actor R Madhavan and his wife, Sarita, have leased their ₹17.5-crore luxury apartment in Mumbai’s Bandra Kurla Complex (BKC) to BP Exploration (Alpha) Limited, the Indian arm of the British multinational oil and gas company. The property has been leased out for a monthly rent of ₹6.5 lakh, with the total rent over two years aggregating to ₹1.60 crore.

The high-end apartment, situated in the Signia Pearl residential tower, measures 4,182 square feet. It was purchased by the actor in July 2024. According to property documents accessed via Square Yards, the lease commenced in the first week of June 2025 and includes a 16-month lock-in period.

Under the terms of the agreement, Madhavan has received a refundable security deposit of ₹39 lakh. The lease stipulates a 5% escalation in rent after the first year, taking the monthly rent from ₹6.5 lakh to approximately ₹6.83 lakh in the second year. The registration process involved a stamp duty payment of ₹47,000 and a registration fee of ₹1,000.

The gross rental yield from the property is estimated at around 4.5% in the first year and approximately 4.7% in the second year, based on the purchase value of ₹17.5 crore and the agreed rent structure.

Signia Pearl, the residential tower where the apartment is located, is positioned within Mumbai’s BKC—a central business district that has seen consistent interest from institutional investors, multinational corporations, and high-net-worth individuals. The tower houses several high-value residences and is known for its proximity to major commercial and financial establishments.

BP Exploration (Alpha) Limited, the tenant in this agreement, is a subsidiary of the UK-headquartered BP plc. The company has operations in India related to energy exploration and downstream retail partnerships.

This lease marks a new phase in R Madhavan’s real estate investments. The actor had acquired the apartment in 2024 amid a wave of high-profile property transactions in BKC by several Bollywood personalities. Industry watchers note that properties in BKC have become increasingly sought-after by actors, professionals, and corporate executives due to their proximity to the city's financial institutions and arterial roadways.

BKC has emerged as one of the most expensive and active commercial hubs in India. It houses headquarters and regional offices of several global corporations, including Apple, Netflix, Amazon, CISCO, Pfizer, and Standard Chartered Bank. The locality is also home to prominent financial institutions such as the Reserve Bank of India, Income Tax Department, and the National Stock Exchange.

The area is well-connected by road infrastructure such as the Western Express Highway, Eastern Express Highway, Eastern Freeway, and Bandra-Worli Sea Link. It is also within easy reach of the international airport and upcoming metro lines. Additionally, the presence of the US Consulate and other diplomatic offices within BKC adds to its institutional significance.

The leasing of Madhavan’s apartment adds to a string of recent real estate developments in the area. Google India recently renewed a 5-year lease for a BKC office space at a cost of ₹304 crore, further solidifying the area’s position as a preferred destination for long-term commercial and residential investments.

Real estate consultants note that rental yields in premium buildings in BKC have remained consistent over the past two years, driven by a mix of local and international demand. With high-value leasing activity and rising interest from HNIs, BKC continues to remain at the forefront of Mumbai’s property market.