Amitabh and Abhishek Bachchan rent property to SBI for Rs 18.9 lakh per month

Actors Amitabh Bachchan and Abhishek Bachchan have rented out the ground floor of the Vatsa and Ammu bungalows in Juhu, Mumbai, to State Bank of India for 15 years at a rent of Rs 18.9 lakh per month, documents accessed by Zapkey.com showed.

The lease deal was registered on September 28, 2021.

Both bungalows are located next to Jalsa, where the family currently resides. The property rented to SBI is spread over an area of 3,150 sq ft, the documents showed.

Rent and deposit

According to the document, the property commands a rent of Rs 18.9 lakh and includes a clause on 25 percent rental escalation every five years. The rent will be Rs 23.6 lakh after five years and Rs 29.5 lakh after 10 years, the documents showed.

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Associate Editor, Real Estate|Moneycontrol News

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A deposit of Rs 2.26 crore, which is equivalent to the rent for 12 months, has already been paid by the bank, the documents showed.

There was no response from SBI, Amitabh Bachchan's or Abhishek Bachchan’s office.

The premises were earlier leased to Citibank, the brokers said.

HNI locality

Local brokers told Moneycontrol that there are several banks in the area that cater to HNI clientele. Many celebrities and business tycoons reside in this locality. The commercial rent in this location is anywhere between Rs 450 per sq ft to Rs 650 per sq ft. Independent bungalows cost Rs 100 to 200 crore.

In May this year, Amitabh Bachchan bought a 5,184 sq ft property in Mumbai worth Rs 31 crore in a project named Atlantis, developed by Tier-2 builder Crystal Group, according to registration documents accessed by Zapkey.com.

Bachchan Senior bought the property in December 2020 but registered it only in April 2021. He paid a stamp duty of Rs 62 lakh, which is 2 percent of Rs 31 crore, taking advantage of the Maharashtra government’s stamp duty waiver of 2 percent until March 31, 2021.

Actor Abhishek Bachchan sold an apartment in Mumbai for Rs 45.75 crore, documents accessed by Zapkey.com showed, the latest in a posse of celebrities and businessmen making the most of an uptick in the real estate market.

The housing unit, spread across 7,527 sq ft, is located on the 37th floor of the Oberoi 360 West project in Worli, the documents showed. The sale document was registered on August 10, 2021. The apartment,which comes with parking slots for four cars, was sold to a man named Anurag Goyal, who paid a stamp duty of Rs 2.28 crore.