Bollywood actress Madhuri Dixit has rented out her flat in Andheri West, Mumbai. The flat has been leased to Karamtara Engineering Private Limited for Rs 3 lakh per month for a duration of two years. Madhuri owns 1,594.24 square feet of commercial space in a building called Morya Landmark-2, which she has rented out. The agreement includes a provision that the monthly rent will increase to Rs 3.15 lakh after one year. A security deposit of Rs 9 lakh was paid for the latest rental agreement.
In Mumbai, one of the most expensive real estate markets in the country, Bollywood celebrities are frequently in the news for purchasing commercial and residential properties to rent them out. In November, Bollywood actor Shahid Kapoor and his wife Mira Kapoor rented out their luxury apartment in the Worli area of Mumbai for Rs 20 lakh per month for five years. The apartment is part of the Oberoi Realty project, 360 West, and spans 5,395 square feet.
In Mumbai, the average gross rental yield for residential properties ranges between 3% and 4%, while for commercial properties, it is between 6% and 8%. Commercial properties such as offices, retail spaces, and warehouses typically offer gross yields ranging from 6% to 10% in metro cities across India. Grade-A office spaces in Mumbai provide an average return of 6% to 8%.
