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Alia Bhatt's production house, Eternal Sunshine Production Pvt Ltd, has rented a luxurious apartment in Bandra, Mumbai, for INR 9 lakh per month. The 6th-floor apartment in Vastu Building, Pali Hill, has been rented out from Narendra Shetty for four years with an annual rent hike of 5%. An INR 36 lakh security deposit was paid, for which stamp duty was INR 1.25 lakh and registration charges of INR 1,000 were paid. This lease is the follow-up to the company's high-profile acquisition of an INR 37.80 crore flat in Bandra West in 2023. Pali Hill continues to be a real estate hotbed, with recent transactions involving cricketer KL Rahul and infrastructure company Apco Infratech, which acquired properties worth INR 20 crore and INR 155 crore, respectively.
Eternal Sunshine Production Pvt Ltd, the production house owned by Bollywood actress Alia Bhatt, has leased an apartment in Mumbai's upscale Bandra area for a monthly rent of INR 9 lakh, as per property registration records accessed by IndexTap.com. The leased flat is situated on the 6th floor of Vastu Building in Nargis Dutt Road in the area of Pali Hill in Bandra. From the documents, it is apparent that the property has been taken on lease from Narendra Shetty, for which he has received a security amount of INR 36 lakh. Advertisement
The tenancy agreement is for a period of 48 months with an annual escalation of 5%. Registration of the transaction occurred earlier this week at a stamp duty of INR 1.25 lakh and registration charges of INR 1,000. This is not the first large property deal of Eternal Sunshine Production Pvt Ltd. Last year, in 2023, the firm had bought a flat in Bandra West for INR 37.80 crore, according to earlier property records.
Eternal Sunshine Production Pvt Ltd and Narendra Shetty were not available for comments on the lease. Pali Hill in Bandra is referred to as one of the most desirable residential areas in Mumbai, with a number of Bollywood celebrities, cricketers, and high-net-worth individuals residing there. Local agents point out that the price per square foot for high-end apartments in the locality begins at INR 1 lakh and increases based on the project.
Recently, cricketer KL Rahul and his wife Athiya Shetty, who is the daughter of Bollywood actor Suniel Shetty, bought an apartment in the Pali Hill locality for INR 20 crore. Likewise, Apco Infratech Private Limited, a company involved in infrastructure construction, bought a sea-view triplex apartment costing INR 155 crore in the same locality. This premium property is part of 'The Legend' development by Ashar Group on the land occupied by Bollywood icon Dilip Kumar's old bungalow. The development will include 4 and 5-BHK luxury homes, including duplexes, and will also contain a 2,000 sq ft museum of the late actor.
The renting out of Alia Bhatt's production house's new flat in Pali Hill highlights the region's position as a top real estate hub for Bollywood stars and high-net-worth individuals. With luxury properties in the region selling at rates of INR 1 lakh per sq ft and more, Bandra remains a top destination for high-end property investment. Recent big-ticket deals, such as those involving purchases by KL Rahul and Apco Infratech, reflect the intense demand for luxury properties in this area of Mumbai. Dilip Kumar's bungalow being redeveloped into a high-end residential complex with a dedicated museum further reinforces Pali Hill's reputation as a luxury realty destination.
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