John Abraham Rents Out Three Properties In Mumbai For 5 Years, Set To Earn Rs 4.3 Crore. (Credit: Instagram)
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Let us tell you, the apartments are located in The Sea Glimpse Co-Operative Housing Society. The rental agreement registered with a stamp duty of Rs 1,12,600 and registration charges of Rs 1,000 includes a security deposit of Rs 36 lakh. The report also suggests that the lease tenure spans 60 months (five years).
The agreed cumulative monthly rent for all three units starts at Rs 6.30 lakh in the first year, and it will increase to Rs 8 lakh in the final year. The agreement outlines a rent escalation of close to 8 percent annually for the first two years and around 5 percent for the last two years. Over the full term, the cumulative rental value is estimated at approximately Rs 4.3 crore.