The housing decisions of Bollywood celebrities often spark intrigue and speculation among fans and onlookers. The recent revelation of Bollywood actor Imran Khan and his girlfriend Lekha Washington leasing a flat in Mumbai’s Bandra area from film producer Karan Johar has once again brought attention to the housing choices of high-profile individuals in the industry.
Imran Khan joins a growing list of celebrities, including Kriti Sanon, Kartik Aaryan, Vicky Kaushal, and Katrina Kaif, who have opted to rent apartments in Mumbai instead of buying. But what factors drive these stars to choose renting over ownership?
According to industry insiders, the reasons behind this trend are diverse. While some actors may have the financial means to purchase property, their decision to rent is often influenced by specific preferences, such as a desire for a particular location or a sea-facing view. Additionally, the apartment of their choice may not be available for sale at the moment, prompting them to explore the rental market.
Sandeep Reddy, co-founder of Zapkey, points out the unpredictable nature of income in the film industry as another key factor. Many actors prefer to avoid committing to a large purchase, opting instead to allocate a higher budget towards rent. This provides them with flexibility in their housing arrangements without the burden of hefty mortgage payments.
Ritesh Mehta, senior director at JLL, further elaborates that several Bollywood celebrities initially lease premium sea-facing apartments while searching for the perfect property to purchase. For newcomers in the industry, renting may be the more feasible option, especially in the early stages of their careers when financial stability is uncertain.
Moreover, some actors choose to invest in real estate solely for rental income, purchasing properties with the intention of leasing them out rather than for personal occupancy.
The trend of Bollywood stars opting to rent apartments reflects not only individual preferences and financial considerations but also the unique dynamics of the entertainment industry. As the allure of Mumbai’s bustling film industry continues to draw talent from across the country, the housing choices of its stars offer a fascinating glimpse into the intersection of fame, fortune, and practicality in the world of Bollywood.
