While there have been numerous examples of Bollywood stars living in rented flats in Mumbai rather than purchasing one or preferring to lend their apartments to others, some do purchase commercial premises for leasing purposes. One of such is none other than Salman Khan.
According to a report by Moneycontrol, they spoke to several experts such as real estate brokers and consultants, to understand why Bollywood stars and other high-net-worth people (HNIs) prefer to buy commercial properties and rent them out rather than residential ones.
According to experts, the annual rental yield offered by the commercial real estate market in comparison to residential real estate is the primary cause for this tendency.
The report further states that Salman Khan earns Rs 89.6 lakh per month as of 2022.
“Bollywood actor Salman Khan leased out 27,650 square feet (sq ft) of space spread over four floors to TNSI Retail Private Limited, a subsidiary of Future Retail Limited, in Mumbai, at a rent of around Rs 89.6 lakh per month in 2022.” – Report states.
Earlier in 2022, the actor renewed a two-year agreement with a leading supermarket franchise, which will pay him Rs 89.60 lakh in rent for the first year and Rs 94.08 lakh in rent for the second year.
According to records obtained by SquareFeatindia.com, Salman renewed the lease on the premises at Linking Road in Mumbai that he had rented to the Foodhall brand. Salman Khan previously leased the property to Foodhall’s main retail company for 5 years in 2017. On September 5, the actor extended his lease with TNSI Retail Pt Ltd, a subsidiary of Foodhall’s parent firm.
Salman’s firm owns and constructs a multi-story building in Bandra, and the total area rented is 2568.85 sq mts, which comprises the basement, ground level, first floor, and second floor. This agreement required a Rs 2.68 crore deposit, in addition to the stamp duty paid by the parties concerned.
Besides that, actors Ajay Devgn and Hrithik Roshan also own commercial real estate spaces in Mumbai.
