Shahid Kapoor is making headlines in the media, but this time, it’s not for his spectacular Bollywood performance. The 43-year-old actor decided to enter the real estate business by renting out his and his wife Mira Kapoor’s shared property in the Three Sixty West project in Worli, Mumbai. Spanning across a carpet area of 5,395 square feet and a built-up space of 6,175 square feet, this luxury apartment up for lease in Mumbai was developed by Oberoi Realty.
It is an ultra-luxurious home with three dedicated parking spaces and world-class amenities like a clubhouse, swimming pool, and gym. Shahid Kapoor and his wife initially purchased this apartment in May 2024 for Rs. 58.6 Crore. The property has been leased to Deepan Bhuptani, a senior executive of D’Decor Home Fabrics, for five years.
The documents obtained by Square Yards, signed in November 2024, confirm that the executive paid a hefty security deposit of INR 1.23 Crores for the luxurious apartment. The lease agreement includes a rent-free stay for the first 10 months, with the rent initially being INR 20.5 Lakh. By the end of the 60-month lease agreement, the rent amount will gradually increase to INR 23.98 Crore.
Several other Bollywood celebrities, including Ranveer Singh, Sajid Nadiadwala, and Kartik Aaryan, have recently opted to rent out their ultra-luxurious Mumbai apartments.
Three Sixty West Project Consistently Appeals to Notable Individuals
Three Sixty West is one of Oberoi Realty’s elite and ambitious residential developments, expanding over 1.58 Crores. The project consists of two towers, offering four—and five-bedroom apartments facing west. Since April 2023, more than 19 transactions worth over 1300 Crores have been recorded.
This high demand is due to the tower’s massive height of 360 metres and a fantastic view of the Mumbai skyline. This includes Ashley Nagpal, a promoter of Ebco Pvt Ltd, and his wife Bianca, who own an apartment worth INR 115 Crores on the 60th floor. Additionally, Utpal Sheth, senior partner at Rare Enterprises, acquired a 15,735 sq ft sea-view residence on the 54th floor for over Rs 123 crore, paying over INR 7 crore in stamp duty. Perhaps Shahid Kapoor opted to rent out his flat to earn an estimated gross rental yield of 4 to 5%.
Karan Bhagat, founder of 360 One (formerly IIFL Wealth), secured two units valued at more than Rs 170 crore, while Kiran Gems promoters bought a 16,000 sq ft apartment in June 2024 for Rs 97.4 crore.
Other Real Estate Transactions of Shahid Kapoor
In 2018, Shahid Kapoor and Mira Rajput made a significant investment in a luxurious duplex apartment, spending approximately Rs 59 crore, which included stamp duty fees. The expansive 8,625-square-foot residence with six parking spots became their new home in 2022. With this move, they left their previous property in Juhu, which has since been rented to actor Kartik Aaryan. Acquired by Kapoor in 2014 for Rs 30 crore, the Juhu property is now on a three-year lease. Aaryan paid Rs 7.5 lakh monthly in the first year, increasing to Rs 8.02 lakh in the second and Rs 8.58 lakh in the final year for the leased apartment in Mumbai.
The Official Media Footprint of Square Yards
This news report on Square Yards was covered by some of the country’s most well-established publication houses, such as Mid-Day, Deccan Herald, DNA India, CNBC TV, and Hindustan Times.
