Why Do Certain Bollywood Celebrities Prefer To Rent Properties In Mumbai Instead Buy Them?
The quick response is that it is financially sensible for them to maintain the lifestyle that is expected of them. Prestige Estates Projects: W S Industries (India) and the South-based real estate developer Prestige Estates Projects. Have entered into a joint venture agreement to construct IT/IT enabled services/parks on 6.53 acres of immovable property in Chennai. The project would be carried out by the subsidiary business of W S Industries (India), WS Insulators.
Bollywood stars own some of the most expensive houses in Mumbai’s real estate market, which is the most expensive in all of India. However, many up-and-coming performers choose to rent an apartment rather than buy one.
Are you searching for new projects in Byculla?
While Mumbai is well-known for having celebrities like Amitabh Bachchan & Shah Rukh Khan own and reside in opulent beachfront houses in burgeoning neighbourhoods like Juhu and Bandra, Madhuri Dixit has also occasionally rented an apartment there.
A more recent example is Mala Tiwari, who rented a 3,681 square foot flat from fellow actor Shahid Kapoor in January 2023. Mala Tiwari is the mother of relatively inexperienced actor Kartik Aryan. According to news, the flat cost Rs 7.5 lakh per month in rent and a security deposit of Rs 45 lakh for a period of 36 months.
Aditi Rao Hydari, an actress, rented an apartment from Malaika Arora in February 2023 for a monthly rent of Rs 2.31 lakh & a three-year deposit of Rs 20 lakh.
Actress Kriti Sanon rented out Bachchan’s duplex in Mumbai in 2021 for Rs 10 lakh per month for two years. Sanon has put down a 60 lakhs rupee security deposit.
So why do Bollywood celebrities rent homes?
Film stars & Bollywood celebs, according to real estate agents, are required to maintain a particular lifestyle. As a result, they prefer renting and moving into newer flats on a periodic basis. Which helps them save money and keep their capital reserves low.
Have a large number of Bollywood-based clientele, including TV serial actors, actresses, movie stars, or directors. A-listers and A+ listers come first in this. The majority of these people move to Mumbai from their hometowns where they own property. But because of the lifestyle they lead, they prefer to rent here in Mumbai.
Most of these A & A+ list celebrities desire a Seaview flat or a luxury home, which can cost up to Rs 25-30 crore or even up to Rs 40-50 crore, and which they may be able to pay for all at once. However, they could still afford to rent it out for Rs. 5-6 lakh or Rs. 8-10 lakh each month.
What about TV personalities who are new?
In addition, there are numerous TV serial stars and actresses who make a decent living and may rent out expensive homes. However, many people in this city also possess homes that are only 1 to 3 bedrooms in size. They purchase as well as rent because, among other reasons, they may be newcomers to Mumbai and are unsure of the workflow. Rather than investing a significant amount of money in purchasing an apartment. They choose to rent it for a period of time—let’s say, two to five years—in order to get a feel for the city.
Renters include both those who are struggling and trying new things. They typically rely on their parents for financial support, therefore they restrict themselves to renting out apartments. Where the rent is also kept to a minimal.
You’re looking for Projects in Andheri we have the Best Properties In Mumbai Like Ready to Move:https://navimumbaihouses.com/real-estate-new-projects-navimumbai/
If you want daily property update details please follow us on Facebook Page / YouTube Channel / Twitter
