by THO
Bollywood actor Kartik Aaryan has rented out an apartment in Mumbai for ₹4.5 lakh per month, according to property registration documents accessed by proptech platform Square Yards.
The lease and license agreement was registered on August 28 with a stamp duty of ₹42,500, the documents showed.
The 1,912 square feet property is located in Siddhi Vinayak Building, in the Presidency co-operative society of Juhu area, per the documents.
According to Square Yards, Aaryan had purchased the residential property jointly with mother Mala Tiwari for ₹17.5 crore. The deal, which includes two car parking spaces, attracted a stamp duty of ₹1.05 crore and a registration fee of ₹30,000, the proptech platform said.
Also Read: Kartik Aaryan buys Mumbai apartment for over ₹17 crore: Report
The documents for the property were registered on June 30, 2023.
The rental yield on Aaryan’s property stands at 3.1%, Square Yards said. Rental yield refers to the percentage of a property’s overall value, received over a year through rental earnings.
Queries have been sent to Kartik Aaryan by HT.com on mail. The story will be updated if/when a response is received.
Besides multiple residential units, Aaryan’s real estate portfolio also includes a commercial property. As reported earlier by HT.com, he purchased a 2,099-square feet office space last year for ₹10 crore in the renowned Signature Tower on Veera Desai Road of Andheri West.
His mother Mala Tiwari had rented an apartment of 3,681 sq ft from Shahid Kapoor, an actor, last year. The apartment came with a rent of ₹7.5 lakh per month and a security deposit of ₹45 lakh for 36 months.
Celebrity clientele
For decades, Mumbai’s property market has attracted its share of interest from the Bollywood fraternity as a preferred area of investment, especially commercial properties. The long list of celebrity clientele features several marquee names, including some from the younger generation of actors such as Sara Ali Khan and Kartik Aaryan himself.
Experts credit high rental yields in commercial properties and capital appreciation of residential real estate in the financial capital, for the trend.
