Here’s why Bollywood celebrities prefer to rent, not buy, houses in Mumbai

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Here’s why Bollywood celebrities prefer to rent, not buy, houses in Mumbai

Bollywood fans visiting Mumbai for the first time consider places like Mannat (Shah Rukh Khan’s seaside bungalow) Jalsa (Amitabh Bachchan’s house), and Galaxy Apartments (Salman Khan’s building), important tourist destinations and make it a point to check them off their list. Palatial residences of the stars are no less than a mecca to their ardent fans and many hopefuls who land in the city to make their mark in the world of showbiz and dream of buying a seaside house they can call their own. But with Mumbai’s skyrocketing real estate prices, buying a property is a far-fetched dream for most actors.

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While many renowned stars own properties in some coveted neighbourhoods of Mumbai, not everyone is as lucky. A lot of actors who come from other cities and are in the process of making Mumbai their home, don’t rush into buying property. The obvious first reason is the astronomical price, but another reason is their unstable income. Actors don’t necessarily get monthly paycheques where they have fixed income coming in every month. There could be lean periods so buying a property and paying EMIs might not be the best idea for everyone. Buying a property also demands them to block out a big chunk of money, which also affects their other expenses. With an unstable income, one has to keep some money aside for a rainy day.

The profession of an actor demands them to keep up certain appearances which require them to live in posh societies and maintain a certain standard of living. So if one wants to buy property, it has to be in a locality that goes well with their image, and such places often cost more than something that could be more affordable. In such circumstances, renting is often the only solution as it gives them the room to live in posh societies without shelling out the big bucks.

Many well-known celebrities have rented properties, including Kartik Aaryan, Kriti Sanon, Vicky Kaushal and Katrina Kaif, Jacqueline Fernandez, and Madhuri Dixit.

Vicky Kaushal and Katrina Kaif, who got married in December 2021, moved into a rented apartment in Juhu soon after tying the knot and as per The Times of India, they pay Rs 8 lakh per month as rent. They also paid a Rs 1.75 crore deposit.

Kriti Sanon also lives in a rented duplex in Juhu and has Amitabh Bachchan as her landlord. As per TOI, she pays Rs 10 lakh as rent per month. She paid a security deposit of Rs 60 lakh.

Speaking of celebrity landlords, Kartik Aaryan, as per HT, also rented an apartment owned by Shahid Kapoor, which is a Rs 30 crore property and pays Rs 7.5 lakh as rent per month. The apartment building is located on Juhu Tara Road. The actor also recently bought an apartment in Mumbai for Rs 17.50 crore in the Siddhi Vinayak Building, Presidency CHSL, Juhu, Mumbai., according to Money Control.

Ayushmann Khurrana, who lives with his wife and two kids in Andheri, used to pay Rs 4.25 lakh per month for his apartment, as per ABP. Still, in 2022, the actor and his brother Aparshakti Khurana bought two houses in the same housing complex in Lokhandwala Complex. As per a report in News18, Ayushmann’s house cost Rs 19 crore, and Aparshakti’s home was worth Rs 9 crore.

Recently, as per Indiatimes, Anushka Sharma and Virat Kohli also rented an apartment in Juhu for Rs 2.76 lakh per month. The couple paid a deposit of Rs 7.50 lakh for the flat. However, the same report suggests that this flat wasn’t rented for their residence but for making it into an office. But, the couple owns other properties in and around the city. Virat bought a flat in Worli in 2016 for Rs 34 crore, as per DNA. They also bought a Rs 19 crore villa in Alibaug in 2022, as per The Financial Express.

Jacqueline Fernandez previously lived in a rented apartment once owned by Priyanka Chopra and paid Rs 6.78 lakh per month as rent, as per Hindustan Times. The actor recently bought an apartment in Bandra, and as per Times Now, the cheapest flat in her new building costs Rs 12 crore.

As per Hindustan Times, Madhuri Dixit used to live in a Worli high rise and paid a whopping Rs 12.5 lakh a month. But last year, Madhuri bought a flat worth Rs 48 crore in Mumbai’s Lower Parel area, as per the same publication.

Buying a property in Mumbai is no cakewalk, even for established actors.

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