Shahid Kapoor Leases His Flat in Oberoi Three Sixty West Worli
Bollywood actor Shahid Kapoor has leased out his luxury apartment located in the prestigious Oberoi Three Sixty West tower in Worli, Mumbai. This high-end property, which spans a generous 5,395 sq ft of carpet area, is now available for lease at a starting rate of over ₹20 lakh per month. The apartment was jointly acquired by Shahid and Mira Kapoor in May 2024 for ₹58.6 crore and includes three dedicated car parking spaces.
Lease Structure and Terms
The lease agreement for the apartment was registered in November 2024 and spans a total of 60 months. The initial security deposit required is ₹1.23 crore. The rental structure is tiered, beginning at ₹20.5 lakh per month and gradually increasing to ₹23.98 lakh over the five-year lease period. Notably, the lease includes a rent-free period for the first 10 months, which is an attractive feature for potential tenants.
Effective Monthly Rent Calculation
Considering the 10-month rent-free period, the total rent payable over the 60-month lease is effectively calculated for 50 months. Assuming an average rent of ₹22 lakh per month across the lease term, the total rent for these 50 months amounts to ₹11 crore. When averaged over the entire 60-month period, the effective monthly rent comes to approximately ₹18.33 lakh.
Property Specifications and Amenities
The apartment is part of Oberoi Realty’s Three Sixty West, which is recognized as one of Mumbai’s premier residential towers. This development is known for its ultra-luxury offerings, including expansive 4 and 5 BHK flats, premium interiors, and world-class hospitality services. The strategic location near the Bandra-Worli Sea Link enhances its accessibility to key areas such as BKC, Lower Parel, and South Mumbai, making it a desirable choice for high-net-worth individuals (HNIs) and non-resident Indians (NRIs).
Worli: An Emerging City Centre
Worli has rapidly transformed into a central hub in Mumbai, attracting a mix of corporate offices and affluent residents. Its strategic location connects South Mumbai to the suburbs, further increasing its appeal. The area features a blend of commercial spaces, luxury residences, and upscale amenities, making it a sought-after destination for both living and investment.
Market Insights
Our listing data indicates that Worli currently has 720 active sale listings, with a median asking rate of about ₹64,500 per sq ft carpet. This reflects the ongoing demand for luxury properties in the area, particularly among those looking to invest in high-end real estate.
Practical Takeaway: For potential tenants or investors, Shahid Kapoor's lease of his luxury apartment in Oberoi Three Sixty West highlights the appeal of high-end properties in Worli. The tiered rental structure and the strategic location of the property suggest a strong rental market, making it an attractive option for those looking to enter the luxury real estate segment in Mumbai.