Veteran actor and filmmaker R Madhavan has leased his premium residence in Mumbai’s Bandra Kurla Complex (BKC) to BP Exploration (Alpha) Limited, formerly British Petroleum, for a monthly rent of ₹6.5 lakh. The agreement adds another highlight to BKC’s ever-expanding real estate prominence, where luxury living meets global commerce.
Deal Highlights and Lease Structure
Key Lease Details:
- Lessor: R Madhavan and wife Sarita
- Lessee: BP Exploration (Alpha) Limited (British Petroleum)
- Location: Signia Pearl, BKC, Mumbai
- Area: 4,182 sq. ft.
- Monthly Rent: ₹6.50 lakh (Year 1); ₹6.83 lakh (Year 2 with 5% escalation)
- Lease Tenure: 2 years (commencing June 2025)
- Lock-in Period: 16 months
- Security Deposit: ₹39 lakh
- Stamp Duty & Registration Fee: ₹47,000 and ₹1,000 respectively
Summary Table:
| Detail | Value |
|---|---|
| Property Value | ₹17.5 crore |
| Monthly Rent (Year 1) | ₹6.5 lakh |
| Monthly Rent (Year 2) | ₹6.83 lakh (5% increase) |
| Total Lease Term | 2 years |
| Total Rental Income | ₹1.60 crore |
| Security Deposit | ₹39 lakh |
| Property Size | 4,182 sq. ft. |
| Location | Signia Pearl, BKC, Mumbai |
| Registration Date | June 11, 2025 |
| Gross Rental Yield | ~4.5% (Year 1), ~4.7% (Year 2) |
Why BKC is a Top Choice for High-Profile Rentals
Bandra Kurla Complex has emerged as Mumbai’s most prestigious business district. It boasts:
- Corporate Tenants: Jio, Amazon, Netflix, Facebook, Apple, Pfizer, CISCO, Standard Chartered, and more.
- Government Presence: Income Tax Department, RBI, GST office, Family Court, US Consulate.
- Connectivity: Excellent access via Western Express Highway, Bandra-Worli Sea Link, Eastern Express Highway, and proximity to the international airport.
These factors make BKC not only ideal for multinational corporations but also a high-demand luxury rental hotspot.
Industry Commentary
While no direct comments were received from the parties involved, property experts view this deal as a signal of continued investor confidence in Mumbai’s premium residential market.
“This lease is a strong indicator of BKC’s positioning as a magnet for high-net-worth individuals and Fortune 500 companies. It offers both rental yield and capital appreciation potential,” said a spokesperson from Square Yards.
Frequently Asked Questions (FAQ)
1. Who has leased R Madhavan’s apartment in Mumbai?
BP Exploration (Alpha) Limited, formerly known as British Petroleum, has leased the apartment.
2. What is the monthly rent of the apartment?
The rent is ₹6.5 lakh per month for the first year, increasing to ₹6.83 lakh in the second year.
3. Where is the apartment located?
The apartment is in Signia Pearl, a luxury residential building in Mumbai’s Bandra Kurla Complex (BKC).
4. What is the size and value of the apartment?
It spans 4,182 sq. ft. and was purchased for ₹17.5 crore in July 2024.
5. What is the gross rental yield from this property?
The gross rental yield is approximately 4.5% in the first year and 4.7% in the second year.