Kartik Aaryan Leases Juhu Apartment for ₹4.5 Lakh

Bollywood actor Kartik Aaryan has leased out his luxury apartment in the prime locality of Juhu, Mumbai, for a monthly rental of ₹4.5 lakh. The 1,912-square-foot property, situated in the Siddhi Vinayak Building within the Presidency Co-operative Society, was jointly purchased by Aaryan and his mother, Mala Tiwari, for ₹17.5 crore earlier this year.

The lease and license agreement for the apartment was officially registered on 28th August, accompanied by a stamp duty of ₹42,500. The acquisition of this upscale property included two dedicated car parking spaces, and the purchase attracted a substantial stamp duty of ₹1.05 crore, along with a registration fee of ₹30,000. The documents for the transaction were formally registered on 30th June 2023. The property offers a rental yield of 3.1%, a notable return in Mumbai’s luxury real estate segment. Rental yield represents the percentage of a property’s value generated through rental income over the course of a year.

This development adds to Kartik Aaryan’s expanding real estate portfolio, which includes both residential and commercial properties. In 2022, Aaryan acquired a 2,099-square-foot office space in the prestigious Signature Tower on Veera Desai Road, Andheri West, for ₹10 crore, marking his entry into the commercial real estate market. Additionally, Aaryan’s mother, Mala Tiwari, had previously rented a 3,681-square-foot apartment from actor Shahid Kapoor at a monthly rent of ₹7.5 lakh, secured with a substantial security deposit of ₹45 lakh for a tenure of 36 months. Mumbai has long been a favoured investment destination for Bollywood celebrities, particularly for high-value commercial and residential properties. Experts attribute this trend to the city’s robust rental yields and the potential for capital appreciation.