Karan Johar, also known as KJo, is an Indian filmmaker and media personality best known for his work in Hindi cinema. Under his own Dharma Productions, he has launched the careers of several successful actors. But did you know he is also a real estate investor and businessman? We have got all the information right here.
While countless actors of Bollywood stars live in rented flats in Mumbai rather than acquiring one or preferring to lend their properties to others, some do buy commercial property for leasing purposes. Ajay Devgn, Salman Khan, Hrithik Roshan, Karan Johar to name a few.
According to a Moneycontrol article, KJo leased out two commercial properties owned by him in the name of Dharma Productions in 2021 for rents of Rs 17.56 lakh and Rs 6.15 lakh per month.
The property on the second floor of Supreme Chambers, off Veera Desai Road in Andheri West, Mumbai, has had its first lease renewed till May 1, 2021.
The chargeable area is 11,374 square feet, and the monthly rent is Rs 155 per square foot. The lease has been extended for another 60 months.
The two leases were first recorded in 2017, and they have now been renewed through May 1, 2021.
A security deposit of Rs 75 lakh has been paid for the first property and Rs 25 lakh has been paid for the second. According to the documents, the agreement includes a condition that allows for a 10% increase in rent every year.
The second property on the same floor has a chargeable area of 3,971 sq ft and a carpet area of 2,820 sq ft. The monthly rent is Rs 6.15 lakh, and the monthly fee 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.
On August 25, 2021, the leave and licencing agreement for the second property was also signed. The second lease was extended until May 1, 2021.
Supreme Chambers has a ground plus ten levels with a total size of roughly 250,000 sq ft.
Dharma Productions Pvt Ltd is an Indian film production and distribution company founded in 1979 by Karan Johar’s father, Yash Johar.
