Shahid Kapoor Leases Luxury Apartment in Mumbai for Over Rs. 20 Lakh per Month
Bollywood actor Shahid Kapoor has recently leased out his luxurious apartment in Mumbai’s renowned Three Sixty West, located in the upscale Worli area. According to Square Yards, the property covers a massive 5,395 square feet (approximately 501.21 square meters) of carpet area. The total built-up area is 573.78 square meters, which equals about 6,175 square feet. In addition, the apartment includes three dedicated car parking spaces, offering convenience and ample space for the tenants.
This apartment was originally bought by Shahid Kapoor and his wife Mira Kapoor in May 2024 for a sum of Rs. 58.6 crore. The property is part of the prestigious Three Sixty West complex, developed by Oberoi Realty. This high-end residential project sits on 1.58 acres of land and offers luxurious 4 and 5 BHK ready-to-move-in apartments. With world-class amenities and stunning views of the sea and city skyline, the complex is one of the most sought-after properties in Mumbai.
In November 2024, Shahid Kapoor registered a lease agreement for this luxurious property. The lease is set for a period of 60 months (5 years) and has a significant security deposit of Rs. 1.23 crore. The agreement features a tiered rental structure, with the starting rent set at Rs. 20.5 lakh per month. Over the term of the lease, the monthly rent will gradually rise to Rs. 23.98 lakh. One noteworthy aspect of the deal is the rent-free period that lasts for the first 10 months, which is a common practice in high-value leases, especially for properties of this scale.
According to Square Yards, the apartment is expected to generate a gross rental yield of around 4-5%. This yield reflects the returns expected from renting out such a high-value property, which is typical for luxury properties located in prime areas like Worli. Given the location and quality of the property, it makes sense for Shahid Kapoor to rent it out, especially since it can generate a solid income over the next few years.
Shahid Kapoor is not the only celebrity to have recently leased out their luxurious property in Mumbai. A number of Bollywood stars and well-known figures are renting out their high-end properties in the city. Celebrities like Kartik Aaryan, Ranveer Singh, and producer Sajid Nadiadwala have also followed similar routes. Renting out luxury properties allows them to generate substantial income while maintaining ownership of their assets, a trend that has been growing in Mumbai’s real estate market.
The Three Sixty West complex is known for its top-notch amenities, including a swimming pool, gym, and concierge services, making it an attractive choice for high-profile tenants. The location in Worli is also a key factor, as it is centrally located with easy access to business hubs, entertainment centers, and luxury shopping areas. The area’s proximity to the sea adds a tranquil touch to the urban lifestyle, offering beautiful views from the apartments.
This lease agreement is another example of the lucrative potential of Mumbai’s luxury rental market, where high-profile properties attract wealthy individuals who are willing to pay a premium for comfort, privacy, and exclusive amenities. It also shows how celebrities are making strategic decisions with their real estate investments, balancing personal ownership with the opportunity for steady rental income.
Image source- facebook.com
