Shraddha Kapoor Rents Luxury Apartment in Mumbai for ₹6 Lakh Per Month
Bollywood actress Shraddha Kapoor has taken a luxurious apartment on rent in Mumbai’s sought-after Juhu area for ₹6 lakh per month, as revealed in property documents accessed by Zapkey. The apartment, covering a vast area of 3928.86 square feet, is a significant commitment for the actress, who is currently riding high on the success of her recent hit film Stree 2.
Kapoor has signed a one-year lease agreement for the property and made an advance payment of ₹72 lakh for the entire year. The apartment comes with a set of four car parking spaces, which adds further convenience and value to the property. The lease agreement, registered on October 16, 2024, shows a stamp duty of ₹36,000 and a registration fee of ₹1,000. This document highlights the legal details of the rental agreement, which is a standard practice for high-value rental transactions in India.
Kapoor's decision to rent the property, rather than purchase, is not an unusual one, especially for individuals in the entertainment industry. Bollywood stars often prefer to rent luxurious homes in exclusive areas such as Juhu, Bandra, or Pali Hill due to several reasons. Renting offers flexibility, especially for those whose work often requires relocation or frequent travel. For many, renting provides access to properties that are beyond their immediate financial commitment, while also offering high-end amenities and exclusive locations.
The Juhu area, known for its privacy, security, and proximity to the film industry, makes it an ideal location for celebrities. The area has long been home to numerous film industry figures, as it offers peace and seclusion while still being close to the bustling city. The availability of luxury amenities, including private pools, gyms, and panoramic sea views, further enhances the appeal of renting properties in these upscale neighborhoods.
Shraddha Kapoor’s decision to rent a high-end apartment in Juhu comes as part of a broader trend among Bollywood celebrities. Many actors and directors, even those who are financially capable of purchasing property, choose to rent luxury homes. This choice is driven by the desire for flexibility, convenience, and the ability to experience a variety of exclusive homes without committing to long-term ownership.
For instance, Kartik Aaryan has rented out his luxury Juhu apartment for ₹4.5 lakh per month. Similarly, actor Imran Khan and his partner, Lekha Washington, also opted to rent a high-end flat in Bandra, paying ₹9 lakh per month to Karan Johar for a three-year lease. These examples reflect the common preference among celebrities to rent rather than purchase real estate in Mumbai's premium neighborhoods.
In the first half of 2024, Mumbai's real estate market saw a notable increase in rental agreements, with a total of 1.90 lakh agreements registered, reflecting a 13% rise from the 1.67 lakh agreements registered in the same period in 2023. This growth spans across all segments, including residential, commercial, and retail properties, according to data shared by the Maharashtra Inspector General of Registration (IGR).
Looking at the broader trend, a total of 3.06 lakh rental agreements were registered in Mumbai in 2022, which rose to 3.33 lakh in 2023. As of July 18, 2024, around 2.09 lakh rental agreements had already been registered, indicating that the market is on track to see continued growth by the end of the year.
Shraddha Kapoor's decision to rent a luxurious apartment in Juhu highlights the growing trend among Bollywood celebrities who prioritize flexibility and convenience. Renting offers them the freedom to enjoy prime locations and high-end amenities without the commitment of long-term ownership. This choice reflects the practical needs of those in the entertainment industry, where frequent relocation and changing circumstances make renting a more appealing option than purchasing property.
