Karisma Kapoor Extends Bandra West Lease Agreement Worth ₹66.12 Lakh for One Year

Bollywood actress Karisma Kapoor has reportedly renewed the lease agreement for her luxury apartment located in Bandra West, securing a rental income of ₹66.12 lakh for one additional year, according to documents filed with the Inspector General of Registration (IGR) and reviewed by industry sources.

The upscale residential unit, situated within the Grand Bay Condominium on Hill Road, continues to demonstrate the sustained demand for premium rental properties in Mumbai's luxury real estate market.

One-Year Extension Finalizes Fresh Leasing Terms

Industry reports indicate that Kapoor had initially leased the apartment to Kongsberg Maritime India Pvt Ltd in November 2023 under a two-year agreement. The latest registration documents suggest that both parties have now entered into a renewed contract extending the arrangement for another year.

The financial and contractual details outlined in the registered agreement include:

This transaction reflects the streamlined process enabled by Maharashtra's property registration reforms, which have made such lease renewals more accessible to property owners across the state.

Property Specifications and Amenities

According to the available documentation, the Bandra West apartment features substantial space and premium parking facilities:

• Carpet Area: 2,200 square feet
• Parking Provision: 3 designated car parking spaces
• Location: Grand Bay Condominium, Hill Road, Bandra West

The Grand Bay Condominium has reportedly established itself as a preferred address for high-net-worth individuals and corporate executives, offering spacious layouts and strategic positioning within one of Mumbai's most desirable investment hotspots.

Bandra West's Position in Mumbai's Premium Rental Ecosystem

Industry observers note that Bandra West continues to maintain its status as a magnet for luxury tenants, ranging from multinational corporate clients to entertainment industry professionals. Similar to recent high-value lease transactions in Bandra, this renewal underscores several market dynamics:

• Persistent demand for premium residential properties in established micro-markets
• Growing corporate appetite for high-value residential leases for key personnel
• Sustained interest in branded developments with strong location credentials

Real estate analysts suggest that the lease extension ensures Kapoor a stable income stream from a high-value asset in a neighborhood where rental yields for luxury properties remain exceptionally robust.

Celebrity Real Estate Activity in Mumbai

This transaction adds to a growing list of Bollywood celebrities engaging in significant property transactions across Mumbai's premium locations. Recent months have witnessed several notable deals, including high-value property listings in Bandra and luxury apartment acquisitions in western suburbs.

Industry sources indicate that the trend reflects broader patterns in how entertainment industry professionals approach residential real estate decisions, with many opting to monetize prime assets through strategic leasing arrangements.

Market Implications and Investment Outlook

The renewal comes amid sustained momentum in Mumbai's luxury residential segment, particularly in established neighborhoods like Bandra West. Market data suggests that properties in prime locations continue to command premium rental rates, supported by limited supply and consistent demand from both domestic and international tenants.

For property owners in similar premium micro-markets, the transaction illustrates the potential for generating substantial returns through strategic leasing, especially when properties are well-maintained and situated in sought-after developments.

The lease also highlights the importance of understanding stamp duty and registration requirements in Maharashtra for rental agreements, ensuring compliance with regulatory frameworks that govern property transactions in the state.