Karan Johar, Bollywood film screenwriter, director and producer, has renewed the leases of two commercial properties owned by him in the name of Dharma Productions for a rent of Rs 17.56 lakh and Rs 6.15 lakh per month respectively, registration documents accessed by Zapkey.com have said.
The leave and licence agreements were registered on August 25, 2021.
There was no response from Karan Johar's office to queries sent by Moneycontrol.
Dharma Productions Pvt Ltd is an Indian film production and distribution firm that was established by Karan Johar’s father Yash Johar in 1979.
The first lease has been renewed from May 1, 2021, for the property located on the second floor of Supreme Chambers, Off Veera Desai Road in Andheri West, Mumbai.
The chargeable area is 11,374 sq ft and the rent is Rs 155 per sq ft per month. The lease tenure has been renewed for 60 months.
The two leases were earlier registered in 2017 which have now been renewed from May 1, 2021.
A security deposit of Rs 75 lakh has been paid for the first property and Rs 25 lakh for the second property. The agreement includes a clause for escalation of rentals by 10 percent every year, the documents showed.
The second property, also located on the same floor has a chargeable area of 3,971 sq ft and a carpet area of 2,820 sq ft. The rent per month is Rs 6.15 lakh and the rate per month is Rs 155 per sq ft.
The second property is owned by Yashwan Productions Private Limited that has Hiroo Yash Johar (Karan Johar’s mother), Apoorva Jekisandas Mehta and Karan Yash Johar as directors.
The leave and licence agreement for the second property was also signed on August 25, 2021. The second lease has been renewed from May 1, 2021.
Supreme Chambers comprises ground plus 10 floors and the total area of the building is around 250,000 sq ft.
“The tenant types are largely BFSI (back-end), media houses, shipping, etc.
The average rental basis recent deals is around Rs 150 to Rs 165 per sq ft per month on chargeable,” said Bappaditya Basu, chief business officer, Anarock Commercial.
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