Shakti Kapoor, Shraddha Kapoor lease Mumbai flat for ₹2.5 lakh a month | Personal Finance

Actor Shakti Kapoor and his daughter, actor Shraddha Kapoor, have leased out a 1,050 sq ft apartment in Mumbai’s Mahalaxmi area to Akshat Khetan for a monthly rent of ₹2.5 lakh, according to the registered leave and licence agreement accessed by CRE Matrix. 

 

The agreement for the flat on the third floor of Piramal Mahalaxmi South Tower was registered on June 26, 2026. The 36-month lease commenced on July 1, 2026, and will run until June 30, 2029.  

 

Rent to rise 5% every year

The monthly rent is fixed at ₹2.5 lakh for the first 12 months. It will increase by 5% every year to ₹2.625 lakh during the second year and ₹2.756 lakh during the final 12 months.

  

Over the full three-year period, the agreement provides for total rental payments of approximately ₹94.58 lakh.

 

The tenant has also paid an interest-free refundable security deposit of ₹7.5 lakh. 

 

Apartment in Piramal Mahalaxmi South Tower

The leased property is a residential apartment measuring 1,050 sq ft in Piramal Mahalaxmi South Tower, located on G B Sakpal Marg and San Guruji Marg in Mahalaxmi East, Mumbai.

 

The apartment is furnished and includes a sofa, chairs, cupboards, four air-conditioners, a water purifier, refrigerator, washing machine, gas stove, hob, chimney, dining table and other furniture and appliances, according to the agreement.  

 

The agreement specifies that the premises can be used only for residential purposes.

 

Lock-in period of one year

The lease carries a 12-month lock-in period. During this period, neither party can seek to terminate the agreement without the consequences specified in the contract.

 

After the lock-in period, either party can terminate the agreement by giving 30 days’ written notice, subject to the other terms of the agreement.     BOMB6-9800-2026.

 

Shakti and Shraddha to bear maintenance

Under the agreement, the licensors will bear the maintenance charges, rates, taxes, levies, assessments and non-occupancy charges related to the apartment.

 

The tenant, meanwhile, will pay electricity charges directly based on consumption. 

 

The registered document was executed by Shakti Kapoor and Shraddha Kapoor as licensors and Akshat Khetan as the licensee.

 

Rental income of nearly ₹1 crore

At the agreed escalation structure, the property is set to generate ₹94.58 lakh in gross rent over three years, excluding maintenance and other charges borne separately under the agreement.

 

₹6.24-crore purchase in the same project

Interestingly, the latest lease comes after Shraddha Kapoor and Shakti Kapoor jointly purchased another apartment in Piramal Mahalaxmi South Tower for ₹6.24 crore in January 2025. 

The 1,042.73 sq ft apartment was registered on January 13, 2025. 

 

Shraddha’s ₹6-lakh-a-month Juhu home

Shraddha has also been associated with a high-value rental property in Mumbai’s Juhu. 

In October 2024, she leased a 3,928.86 sq ft apartment in Prime Beach, Juhu, at a monthly rent of ₹6 lakh. The one-year agreement involved four car parking spaces and an annual rental commitment of ₹72 lakh, with the rent reportedly paid upfront.She subsequently renewed the lease in February 2026 for another year at a starting monthly rent of ₹6 lakh. The renewed agreement covered the same approximately 3,929 sq ft apartment and four parking spaces, taking the annual rental commitment to another ₹72 lakh.