Mumbai, November 2024 – Bollywood star Shahid Kapoor and his wife Mira Kapoor have leased their luxury apartment in Mumbai’s high-end Three Sixty West complex, located in the upscale neighbourhood of Worli, for ₹20 lakh per month. The luxury apartment was acquired by the couple in May 2024 for a reported ₹58.6 crore. The five-year lease was officially registered on November 7, with the apartment rented to Dipan Bhuptani, a senior executive at D'Decor Home Fabrics, one of India's leading home decor brands.
The Three Sixty West project by Oberoi Realty spans 1.58 acres, featuring premium 4 and 5 BHK apartments with exceptional views of the Arabian Sea. Shahid and Mira’s unit is expansive, covering 5,395 sq. ft. with an additional built-up area of approximately 6,175.42 sq. ft. (573.78 sq. m), and includes three dedicated parking spaces. Known for its luxurious amenities and high-end finish, Three Sixty West has become a preferred address for celebrities and high-net-worth individuals.
The rental agreement, set for a 60-month term, introduces a tiered payment structure starting at ₹20.5 lakh per month and rising incrementally to ₹23.98 lakh by the lease's fifth year, reflecting rising rental values in Mumbai’s prime residential areas. The lease agreement also includes an initial security deposit of ₹1.23 crore and a unique rent-free period for the first 10 months. Over the course of the term, the property is expected to generate a gross rental yield of 4-5%, a significant return in Mumbai’s competitive luxury real estate market.
Shahid and Mira Kapoor’s strategic rental move highlights the high demand and profitability of luxury rental properties in Mumbai, with upscale apartments offering investors strong rental yields and long-term returns.
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