Bollywood Stars: In the glamorous world of Bollywood, one is led to believe that stars own their own luxury homes. However, most of the leading stars prefer living in rented apartments, opting to rent houses from other stars. Look at a few of the Bollywood stars who reside in rented houses:
Vicky Kaushal and Katrina Kaif
The celebrity couple has a sea-facing luxury apartment in Mumbai’s Juhu area. They lease this luxury apartment for Rs.8 lakh per month.
Kriti Sanon
Well-known for her roles in films like “Mimi,” Kriti Sanon leases an apartment in Mumbai’s Bandra area for Rs.17 lakh per month.
The “Bhool Bhulaiyaa 2” actor has leased a sea-facing apartment in Juhu which previously was owned by Shahid Kapoor. Kartik is shelling out a rent of Rs.8 lakh every month for the same.
Nushrratt Bharuccha
Nushrratt Bharuccha resides on the 12th floor of an apartment in Vile Parle, Mumbai, and pays ₹4 lakh as rent every month.
Ali Fazal and Richa Chadha
The couple stays in a sea-facing apartment in Juhu, Mumbai, which rents for Rs.3 lakh a month.
Aditi Rao Hydari
Aditi Rao Hydari shelles out Rs.2.31 lakh a month for a rented house in Mumbai’s Versova area, which belongs to Malaika Arora.
Imran Khan
Actor Imran Khan stays in a rented house in Bandra, Mumbai, for which he pays Rs.9 lakh a month.
August Man
Anupam Kher
Veteran actor Anupam Kher stays in a rented house in Juhu, Mumbai, which costs Rs.3 lakh per month.
Shah Rukh Khan
As repairs are underway at his old bungalow, Mannat, Shah Rukh Khan has moved into an apartment at the ‘Pooja Casa’ building at the Pali Hill locality in Mumbai and pays ₹24.15 lakh a month.
Reasons Behind Renting
Although these stars possess huge net values, renting provides them with the flexibility of working in temporary residence during professional or personal transitions. Renting also provides them with exposure to varying neighborhoods and lifestyles without the long-term financial commitment of acquiring real estate.
Financial Considerations
Leasing luxury flats in Mumbai is extremely costly. To illustrate, Vicky Kaushal and Katrina Kaif’s rent of Rs.8 lakh every month amounts to Rs.96 lakh annually. Similarly, Kriti Sanon’s annual rent amounts to over Rs.2 crore. These estimates indicate the tremendous financial investments one has to make for selecting luxury rentals in the city.
Effect on Real Estate Market
Celebrity rentals trend drives Mumbai’s property market, with demand and rentals in affluent areas often driven upwards by them. Juhu, Bandra, and Versova become sought-after locations, not just among celebrities but also among other high-net-worth individuals who would love to reside in celebrity-favored areas.