Bollywood actor Kartik Aaryan has been in the news lately over renting his luxurious apartment in Juhu, Mumbai for ₹4.5 lakh per month. The move indicates not only his growing clout in the real estate market but also the high demand for properties in one of the most coveted neighborhoods in Mumbai.
A Strategic Investment
The 1,912 square feet apartment in Siddhi Vinayak Presidency society had been bought by Kartik Aaryan and his mother, Mala Tiwari, for ₹17.5 crore in June 2024. A stamp duty of ₹1.05 crore was included in the property deal, thus proving to be one of the high-end investments. The lease and license agreement, regarding rental, was registered on August 28, 2024, hence cinching the deal and marking another new beginning in the real estate history of Aaryan.
Details of the Property
The apartment has all new fittings and is accompanied by two parking lots, hence being a very lucrative rental option for buyers. The rental yield in this context is around 3.1%, reflecting a high yield in Mumbai’s real estate market. This is very viable for high-net-worth individuals who would like to invest in the city’s booming property frontier .
Juhu: A Prime Location
Juhu is known for its high class of living; hence, it is an ideal place for most of the celebrities, professionals, and businesspeople. The place is not only famous for its beautiful beaches but also because of the proximity of various centers of entertainment and day-to-day facilities. Some of the most famous inhabitants include Amitabh Bachchan, who has several properties in and around the area, and some months ago, lyricist Javed Akhtar bought a significant piece of property in this locality.
A Growing Real Estate Portfolio
These are not the only properties Kartik Aaryan has invested in. He has another apartment in the same society, that he purchased in July this year, and a commercial property, office space measuring 2,099 square feet in Andheri West, which cost him ₹10 crores. The bifurcation in his portfolio underlines the strategic approach Aaryan has towards real estate investment, more so in a city whose property values appreciate with time.
The Appeal of Renting in Mumbai
This is a growing trend among Bollywood celebrities, and other high-profile cases have emerged where renting is considered more attractive than buying. The high prices of property, the flexibility in renting, and substantial yields from rentals make leasing quite attractive. Aaryan’s decision to rent out his apartment goes in tandem with the trend that many celebrities would rather invest in several properties while maintaining the flexibility that comes with renting.
Market Implications
The Mumbai rental market has become quite aggressive, especially when it comes to areas like Juhu. That is a strong manifestation of the demand for high rentals by rich people. The recent rental deal of Kartik Aaryan’s apartment basically reflects the fact that interest in luxury properties remains buoyant due to high-net-worth renters who look for quality living environments in town.
Conclusion
The fact that Kartik Aaryan has leased out his Juhu apartment for ₹4.5 lakh every month indicates not only his fast-growing influence in the real estate market but also the demand for luxury houses in Mumbai. With the continuity of affluent citizens coming into the city, a trend of high-value rentals is bound to continue with a high profile of real estate. Kartik Aaryan’s strategic investments and decisions reflect a certain trend: the art of dealing with twists and turns in the Mumbai property market- amongst celebrities and high net worth individuals.