Amitabh Bachchan Leases Property to SBI for Rs 18.9 Lakh/Month
The property will have a rental escalation of 25 percent every 5 years.
advertisement
Amitabh Bachchan and Abhishek Bachchan have leased property near their Mumbai home 'Jalsa' to the State Bank of India for Rs 18.9 lakh per year. The bank has signed a 15-year lease, and the rent will see an escalation of 25 percent every five years, according to documents accessed by Zapkey.com, a real estate analytics and research firm.
The ground floors of the two bungalows Vatsa and Ammu have been rented out. The property is spread over an area of 3.150 sq ft. The premises was earlier leased to Citibank, and the bank vacated the place after the agreement lapsed in June 2019.
A stamp duty of ₹30.86 lakh was paid along with ₹30,000 as registration charges for the deal. SBI has also paid a deposit of Rs 2.26 crore, equivalent to 12 months' rent. As per the escalation agreement, the rent will be ₹23.62 lakh after five years and ₹29. 53 lakh after 10 years.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)