Luxury Rentals in Mumbai: Karan Johar's Duplex Deal in Pali Hill Sets the Tone
Mumbai's luxury rental market continues to thrive, driven by high demand and limited supply, with areas like Pali Hill, Bandra, and Worli being the most sought-after
Luxury RentalsMumbaiPali HillKaran JoharProperty MarketReal Estate MumbaiAug 30, 2024
The apartment, located on the 2nd and 3rd floors of the tower in Pali Hill's Union Park, comes with a hefty price tag of Rs 8.10 lakh per month for the first 12 months. The monthly rent will increase to over Rs 8.50 lakh in the second year and Rs 8.93 lakh in the third year, taking the total rental outgo over the lease tenure of 36 months to over Rs 3.06 crore.
The rental agreement was registered on August 23, as per documents accessed through Zapkey.com. Despite the high rental rates, the market sees steady interest due to the limited availability of such properties and the desire for high-end living standards.In recent years, there has been a noticeable increase in rental prices, particularly in sought-after neighborhoods. This trend is fueled by a combination of limited new supply, rising property values, and the growing appeal of luxury living among the city's wealthy residents.
Areas like South Mumbai, Worli, Bandra, Juhu, and Powai remain popular among affluent individuals, expatriates, and professionals in the city's thriving industries. The luxury rental market in Mumbai continues to be robust, driven by high demand from these segments.Karan Johar's duplex deal in Pali Hill sets the tone for the luxury rental market in Mumbai, highlighting the growing appeal of high-end living among the city's wealthy residents.
About Zapkey.com Zapkey.com is a property search platform that provides access to property documents, including rental agreements and sale deeds.
Frequently Asked Questions
What is the monthly rent of Karan Johar's duplex apartment in Pali Hill?
The monthly rent of Karan Johar's duplex apartment in Pali Hill is Rs 8.10 lakh for the first 12 months, increasing to over Rs 8.50 lakh in the second year and Rs 8.93 lakh in the third year.
What is the total rental outgo over the lease tenure of 36 months?
The total rental outgo over the lease tenure of 36 months is over Rs 3.06 crore.
What are the most popular areas for luxury rentals in Mumbai?
Areas like South Mumbai, Worli, Bandra, Juhu, and Powai are the most popular for luxury rentals in Mumbai.
What is driving the luxury rental market in Mumbai?
The luxury rental market in Mumbai is driven by high demand from affluent individuals, expatriates, and professionals in the city's thriving industries, limited new supply, rising property values, and the growing appeal of luxury living among the city's wealthy residents.
What is Zapkey.com?
Zapkey.com is a property search platform that provides access to property documents, including rental agreements and sale deeds.
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