Bollywood director, producer, and television personality Karan Johar has rented a premium duplex apartment in Mumbai’s upscale Bandra West. The Economic Times reports that Johar’s new residence is located on the 2nd and 3rd floors of a tower in Pali Hill’s Union Park.
The rental agreement spans three years, with the initial monthly rent set at Rs. 8.10 lakh. This amount is set to increase to Rs. 8.50 lakh in the second year and Rs. 8.93 lakh in the third year, bringing the total rental expenditure over the 36-month period to more than Rs. 3.06 crore. The rental agreement was officially registered on August 23, as per documents from Zapkey.com.
Queries to Karan Johar’s team regarding this new rental arrangement have not received a response from The Economic Times.
Mumbai’s luxury rental market remains strong, driven by high demand from affluent individuals, expatriates, and professionals in the city’s thriving industries. Areas such as South Mumbai, Worli, Bandra, Juhu, and Powai continue to attract significant interest, despite the high rental rates. This ongoing demand is due to the limited availability of premium properties and the desire for high-end living standards.
In recent years, rental prices in these sought-after neighborhoods have seen notable increases. This trend is attributed to limited new supply, rising property values, and the growing appeal of luxury living among Mumbai’s wealthy residents.
