Mumbai’s realty landscape is seeing an interesting shift, with Bollywood stars progressively turning their attention to industrial financial investments over property ones. The most recent to join this pattern is Amitabh Bachchan, who has actually apparently protected a rewarding offer by leasing 4 business systems in Mumbai’s Oshiwara district for a shocking Rs. 2.07 crores each year.
Amitabh Bachchan leas Mumbai residential or commercial property for Rs. 2.07 crores annual: Reports
These systems, covering roughly 10,000 square feet, have actually been rented to Warner Music India Limited for a five-year term, as reported by The Economic Times and Moneycontrol. Bachchan’s lease contract with Warner Music consists of a three-year lock-in duration and access to 12 parking slots. This tactical relocation follows Bachchan’s informative purchase of these areas in August 2023, each valued at a substantial Rs. 7.18 crores.
The lease structure itself is developed for incremental development, with the preliminary rate set at Rs. 170 per square foot each month for the very first 3 years, based on The Economic Times. This will see a 15% boost for the following 2 years, culminating in a last rate of Rs. 195.50 per square foot each month. This equates to a preliminary yearly lease of Rs. 2.07 crores, which will increase to Rs. 2.38 crores from the 4th year onwards. The lease formally starts in March 2024 and includes a stamp task of Rs. 2.88 lakhs paid in November 2023, based on Moneycontrol.
While this current industrial offer headings Bachchan’s present property endeavors, it’s not his very first venture into the field. In November, he and Jaya Bachchan talented their renowned Pratiksha cottage in Juhu, Mumbai, to their child Shweta Nanda. This extensive residential or commercial property, divided into 2 plots amounting to 9,585 square feet and 7,254 square feet, was valued at a combined Rs. 50.63 crores at the time of transfer through present deeds on November 8.
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