Shahid Kapoor rents out luxurious apartment for Rs 20 lakh per month
Mumbai: Actor Shahid Kapoor rented out his luxurious apartment at Rs 20 lakh per month according to real estate consultant Square Yards. The apartment was purchased jointly by Shahid and his wife Mira Kapoor in May 2024 for Rs 58.6 crore.
The project called ‘Three Sixty West’ was developed by Oberoi Realty over 1.58 acres, offering 4 and 5 BHK ready-to-move-in apartments.
The rent was given on a lease basis for 60 months (five years) starting November 2024, with initial security deposit of Rs 1.23 crore. It is expected to generate average gross rental yield of 4-5 percent of its purchase amount.
The rental agreement has a clause to increase the starting rent from Rs 20.5 lakh per month to Rs 23.98 lakh by the end of the lease period. Additionally, the agreement has a provision of rent-free period for the initial 10 months.