Bollywood’s evolving relationship with Mumbai’s high-stakes property market reflects changing priorities—lifestyle, flexibility, and financial strategy.
As Mumbai’s skyline grows taller, so do the decisions of Bollywood stars who must choose between renting luxury spaces and buying permanent homes. Recently, Shah Rukh Khan, Aamir Khan, and others have taken very different paths, sparking renewed interest in the rent-vs-buy debate.
Shah Rukh rents during Mannat makeover
Superstar Shah Rukh Khan has leased four floors in the plush Puja Casa in Bandra for ₹24.15 lakh per month, while his iconic residence Mannat undergoes renovations. This strategic move provides temporary comfort without the commitment of another purchase.
Aamir Khan invests amid redevelopment
Aamir Khan, known for his thoughtful choices, purchased a ₹9 crore flat in Bandra, with a ₹58.5 lakh stamp duty and ₹30,000 registration fee. His current Pali Hill home is under redevelopment, making this a long-term play aligned with his stature and belief in ownership.
Younger stars prefer renting
Stars like Vicky Kaushal and Katrina Kaif renewed their lease on a Juhu flat for ₹17.01 lakh per month, with a ₹1.75 crore security deposit. Kriti Sanon rents a 5,184 sq ft duplex from Amitabh Bachchan in Andheri for ₹10 lakh per month. For these stars, it’s about maintaining a luxe lifestyle without long-term ownership.
Practicality over prestige for some
Veteran actor Anupam Kher said, “I prefer renting in Mumbai and investing elsewhere.” He owns homes in Chandigarh and Shimla.
Richa Chadha and Ali Fazal rented during a “depressed market,” viewing it as a practical, emotion-free choice.
Owning for legacy
Others, like Aamir and Salman Khan, still view property as legacy. Homes like “Mannat,” “Galaxy,” and “Jalsa” aren’t just addresses—they’re landmarks. In a volatile industry, real estate becomes a symbol of permanence and legacy.
Why more are choosing to rent
Prashant Puri of Horseshoe Realty Ventures explains the growing preference for renting: “Yes, it's become a trend now. And if you see it microscopically, these apartments are rented by the people from the same fraternity. So there are two things which are influencing this. One, for two, three years, it doesn't make sense in context of Shah Rukh Khan. It doesn't make sense to buy an apartment because if he is going to sell it again and then he would have to invest a great majority of money to stay in that."
He adds, "Also, the investment which he will put in to buy a new apartment for a temporary residence will not appreciate that much. So paying rent is cheaper."
Renting benefits middle-class too
With Mumbai under massive redevelopment, middle-class renters—relocated professionals, families awaiting redeveloped homes, and priced-out young adults—are competing for limited housing near work hubs. Rentals are soaring as demand outpaces supply.
Why owners rent instead of selling
Many flats in the rental market are older properties held onto for emotional or tax reasons. In India, real estate is viewed as a legacy asset—rarely sold unless absolutely necessary.
The financial tug-of-war: Equity vs real estate
Puri also reveals that equity market players prefer people to rent. “When an individual invests in real estate, that money exits the equity ecosystem. Today, for buying a ₹1 crore apartment, his ₹20 lakh is in the market with them. The moment he buys it, that ₹20 lakh gets out of the market… and gets into real estate, which is jammed.”
He says the rent-is-better narrative benefits the financial sector. “The messaging also depends on whom it is favouring. If you demotivate them from buying, then that money doesn’t go out.”
Renting makes sense for starters—not strugglers
For most young professionals, buying a home is simply unaffordable. Renting allows flexibility without massive EMIs. For instance, an ₹80 lakh home loan may demand ₹80,000 per month in EMIs, while the same flat could be rented for ₹20,000.
For the elite, it's a lifestyle choice
For Bollywood’s top names like Hrithik Roshan, Deepika Padukone, and Ranveer Singh—who’ve spent ₹100 crore on new properties—real estate is about destination homes, not financial ROI. These buyers don’t face rent vs buy dilemmas; they buy based on status and long-term comfort.
Ultimately, whether it’s about flexibility, image, or investment, real estate decisions in Bollywood mirror larger market dynamics—and the same forces are quietly shaping how the middle class thinks about where (and how) they live.
Source: Times of India
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