A new rental agreement has brought actors Shakti Kapoor and Shraddha Kapoor into Mumbai’s residential property market. The father-daughter duo has leased a furnished apartment in Mahalaxmi East for ₹2.5 lakh per month. According to the documents accessed by CRE Matrix, the property is part of Piramal Mahalaxmi South Tower, a residential development in South Mumbai. The agreement was registered on June 26, 2026, and covers three years.
The apartment measures 1,050 sq ft and sits on the building’s third floor. The lease began on July 1, 2026, and runs until June 30, 2029. Over this period, the rent will increase annually under the agreed terms. The arrangement carries an estimated total rental value of ₹94.58 lakh, apart from the refundable security deposit and other applicable charges.
Inside the Kapoor Family’s Mahalaxmi Rental Deal
The apartment is located in Mahalaxmi East, an established part of South Mumbai with residential and commercial developments. The furnished unit offers 1,050 sq ft of space within Piramal Mahalaxmi South Tower. Rather than a short stay, the agreement sets out a three-year rental arrangement with scheduled increases.
The lease was registered on June 26, 2026, shortly before its commencement on July 1. It is scheduled to end on June 30, 2029. The agreement also records an interest-free, refundable security deposit of ₹7.5 lakh. These terms define the financial commitment for both parties over the lease period.
How the Monthly Rent Will Change Over Three Years
The starting rent is ₹2.5 lakh per month for the first year. Under the agreement, the monthly amount will increase by 5% after each year. It will rise to ₹2.625 lakh in the second year, followed by approximately ₹2.756 lakh in the third year.
These increases bring the total rental commitment to approximately ₹94.58 lakh over 36 months. The estimate reflects the agreed rental schedule and excludes maintenance and other separately payable charges. The security deposit of ₹7.5 lakh remains refundable under the agreement’s terms. Together, the rent schedule and deposit outline the main financial terms of the deal.
What Happens if the Lease Ends Early?
The agreement includes a 12-month lock-in period. This means the initial year is subject to the lock-in conditions set out in the contract. Such a provision defines the parties’ obligations during the early part of the rental arrangement.
Once the lock-in period ends, either party can terminate the agreement by giving 30 days’ written notice. The notice remains subject to the other conditions in the contract. If neither party terminates the lease, the agreement is scheduled to continue until June 30, 2029.
Shraddha Kapoor’s Earlier Rental Deal in Juhu
Shraddha Kapoor has also entered into a rental agreement for a larger apartment in Mumbai’s Juhu locality. In October 2024, she leased a 3,928.86 sq ft apartment at Prime Beach for ₹6 lakh per month. That agreement covered a one-year period and included four car parking spaces, with a total annual rent of ₹72 lakh.
She renewed the lease in February 2026 for another year, retaining the same apartment and four parking spaces at a starting monthly rent of ₹6 lakh. The Juhu and Mahalaxmi agreements differ in size, location and monthly rent. Together, they offer a look at the rental arrangements associated with Shraddha Kapoor across two Mumbai neighbourhoods.
Why Mahalaxmi Remains an Important Residential Location
Mahalaxmi offers a mix of residential towers, commercial properties and established neighbourhoods in South Mumbai. Its central position connects residents to several business and residential districts. This makes the locality relevant to people seeking homes within the city’s established urban areas.
The Kapoor family’s lease adds another transaction to Mahalaxmi’s residential rental activity. The three-year tenure and scheduled rent increases set out a longer-term commitment rather than a short-term arrangement. The deal’s estimated rental value of ₹94.58 lakh also provides a clear picture of the financial scale of the agreement.
Recent Transactions
Mumbai’s property market continues to record celebrity-linked transactions across residential segments. In a recent deal, Prajakta Mali sold her apartment in Goregaon East for ₹1.12 crore. Meanwhile, Anushka Sharma and her family purchased two apartments at Godrej Skyshore in Versova for a combined ₹25.8 crore. Anushka bought one apartment, and her parents bought the other; both transactions were registered on July 8, 2026. These deals reflect activity across Mumbai’s residential market, from individual apartment resales to high-value purchases in under-construction developments.
