Big B and Junior B rent property to SBI for Rs 18.9 lakh per month

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Bollywood actors and father-son duo, Amitabh Bachchan and Abhishek Bachchan, have rented out the ground floors of their Vatsa and Ammu bungalows in Mumbai, to State Bank of India for 15 years at a rent of Rs 18.9 lakh per month.

As shown in Zapkey.com, which access the documents of the property, the lease deal was registered on September 28 of this year.

Both the bungalows are located near the families current location, Jalsa. As per the documents, the property rented to SBI is spread over an area of 3,150 sq ft. and the rent will rise by 25% every five years. This calculates the increase of rent upto Rs 23.6 lakh after five years and Rs 29.5 lakh after 10 years.

An advance deposit of Rs 2.26 crore, has already been paid by the bank, to rent the property for the next 12 months. However, there has been no response from the actors office or from SBI regarding this matter. The broker said that the premises were earlier leased to Citibank.

As per the local brokers, many celebrities and business tycoons live in the area, and the commercial rent in the locality is between Rs 450 per sq ft to Rs 650 per sq ft. Moreover, Independent bungalows cost about Rs 100 to 200 crore.

Earlier, Abhishek Bachchan was in headlines regarding property deals, when he sold his Mumbai apartment for Rs 45.75 crore. Documents of the apartment was also accesed by Zapkey.com, also showed that the 7,527 sq ft housing unit is located on the 37th floor of the Oberoi 360 West project in Worli.

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