Bollywood icon Amitabh Bachchan has entered into a lease agreement for four commercial units spanning approximately 10,000 square feet in Mumbai's Oshiwara area. The annual rent for this space is set at Rs 2.07 crore, accompanied by a security deposit of Rs 1.03 crore. The lessee, Warner Music India Limited, has secured the commercial premises for a period of five years.
Notably, the annual rental is slated to escalate to Rs 2.38 crore starting from the fourth year, as per details sourced from documents available on Propstack.com, reported Money Control.
In August 2023, Amitabh Bachchan acquired the aforementioned four office spaces in Oshiwara, each purchased at a cost of Rs 7.18 crore. This move aligns with a prevailing trend among Bollywood celebrities, including Kartik Aryan, Manoj Bajpayee, and Sarah Ali Khan, who have also chosen to invest in commercial properties in Mumbai, highlighting a shift towards maximizing rental yields rather than investing in residential real estate.
Under the lease agreement, the actor is set to receive an annual rent of Rs 2.07 crore for the initial three years, with a subsequent increase to Rs 2.38 crore for the fourth and fifth years of the lease. Effective from March 2024, the lessee has provided a security deposit of Rs 1.03 crore. Notably, the deal encompasses 12 designated stack parking spaces, as per the disclosed documents.