Actor Shakti Kapoor and his daughter, actor Shraddha Kapoor, have leased a residential apartment in Mumbai’s Mahalaxmi area to Akshat Khetan for a monthly rent of Rs 2.5 lakhs. The details are based on the registered leave and licence agreement accessed by CRE Matrix. The 1,050 sq ft apartment is located on the third floor of Piramal Mahalaxmi South Tower. The agreement was registered on June 26, 2026, with the 36-month lease commencing on July 1, 2026. It will remain valid until June 30, 2029.
According to the agreement, the monthly rent has been fixed at Rs 2.5 lakhs for the first year of the lease. The rent will increase by 5% annually, taking it to Rs 2.625 lakhs per month during the second year. For the final 12 months, the monthly rent will rise further to approximately Rs 2.756 lakhs.
Across the entire three-year lease period, the total rental payment is estimated at around Rs 94.58 lakhs. Khetan has also paid an interest-free refundable security deposit of Rs 7.5 lakhs.
The agreement includes a 12-month lock-in period, during which neither the landlord nor the tenant can terminate the lease without facing the consequences outlined in the contract. The leased apartment measures 1,050 sq ft and is situated in Piramal Mahalaxmi South Tower, located on G B Sakpal Marg and San Guruji Marg in Mahalaxmi East, Mumbai.
The latest transaction is notable as it comes a little over a year after Shraddha Kapoor and Shakti Kapoor jointly purchased another apartment in the same tower.
Shraddha Kapoor and Shakti Kapoor’s earlier purchase
In January 2025, the father-daughter duo jointly purchased a 1,042.73 sq ft apartment in Piramal Mahalaxmi South Tower for Rs 6.24 crores.
The earlier property transaction was registered on January 13, 2025. The latest lease agreement involving another apartment in the same residential development adds to the family’s property activity in the Mahalaxmi area.
The new three-year lease will remain in effect until June 2029, with the rent increasing by 5% in each subsequent year as specified in the agreement.
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