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In yet another high-profile real estate transaction in Mumbai, veteran Bollywood filmmaker Subhash Ghai has leased a premium commercial property in Andheri West for a monthly rent of ₹3.38 lakh. This long-term lease deal, spread across five years, reflects the continued investor interest in one of Mumbai's most established commercial hubs.
A Closer Look at the Lease Agreement
According to recently reviewed property registration documents, the leased space spans approximately 7,500 sq ft of built-up area, located in the Crest Mukta building in Andheri West. The rental agreement was officially registered on July 18, 2025, with a stamp duty of ₹57,500 and registration charges of ₹1,000.
The deal includes a security deposit of ₹24.66 lakh, and the lease has been structured with a 5% annual rent escalation. The rent will gradually increase from ₹3.38 lakh in the first year to about ₹4.11 lakh by the fifth year. Over the full lease tenure of 60 months, the total rental outflow is estimated at ₹2.24 crore.
The tenant in this transaction is Riya Healthcare, a corporate entity that has taken over the commercial space for business purposes. Both parties have remained tight-lipped about the transaction, with no official comments released at the time of publication.
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Why Andheri West Remains a Real Estate Hotspot
Andheri West is regarded as one of Mumbai’s most dynamic real estate destinations, blending a mix of upscale residential and commercial developments. The area is strategically positioned, offering excellent connectivity through the Western Express Highway, Andheri Railway Station, and Mumbai Metro lines. Its proximity to the Chhatrapati Shivaji Maharaj International Airport further enhances its appeal.
For investors like Subhash Ghai, the micro-market presents a compelling case — strong rental demand, premium tenants, and consistent price appreciation. With a concentration of media and entertainment businesses, Andheri West continues to attract both corporate occupiers and HNIs looking to capitalize on the area’s growth.
Subhash Ghai’s Real Estate Footprint
This is not the first time Subhash Ghai has made headlines for his property dealings. Earlier in 2025, the acclaimed director and producer purchased a luxury apartment in Bandra West for a reported ₹24 crore. Just months before that, he sold a high-end apartment in Andheri West for nearly ₹13 crore, as per market reports.
Known for his contributions to Indian cinema through iconic films like Karz, Ram Lakhan, Pardes, and Taal, Subhash Ghai is also the founder of Whistling Woods International, a film and media institute in Mumbai. Over the years, he has diversified his investments and shown a keen interest in Mumbai's premium property market.
Implications for Mumbai’s Commercial Real Estate Market
This lease agreement underlines the growing preference for long-term commercial commitments in micro-markets like Andheri West. It also suggests that developers and institutional investors are more confident about sustained demand and capital value appreciation in such high-visibility corridors.
For commercial tenants, especially in sectors like healthcare, wellness, and media, well-located Grade A spaces in areas like Crest Mukta offer accessibility, branding advantages, and operational efficiency.
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Deal Snapshot
|
Parameter |
Details |
|
Built-up Area |
7,500 sq ft (~697 sq m) |
|
Monthly Rent (Year 1) |
₹3.38 lakh |
|
Monthly Rent (Year 5) |
₹4.11 lakh |
|
Lease Tenure |
60 months (5 years) |
|
Security Deposit |
₹24.66 lakh |
|
Total Lease Value |
₹2.24 crore |
|
Registration Date |
July 18, 2025 |
|
Stamp Duty |
₹57,500 |
|
Registration Charges |
₹1,000 |
|
Location |
Crest Mukta, Andheri West, Mumbai |
|
Tenant |
Riya Healthcare |
Final Thoughts
This lease deal is yet another indication of Subhash Ghai’s calculated approach to real estate investment. By locking in a steady rental income from a prime asset in Mumbai, Ghai joins a growing number of Bollywood personalities who are diversifying their portfolios beyond the silver screen.
And for those tracking the pulse of Mumbai's commercial market, this transaction is a clear signal that demand for premium space in central locations remains robust even in a market as dynamic and competitive as Andheri West.
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Ans 1. Subhash Ghai has leased out a 7,500 sq ft commercial space in Crest Mukta, Andheri West, Mumbai for a monthly rent of ₹3.38 lakh. The lease is for a 5-year term, with 5% annual rent escalation.
Ans 2. The commercial property has been leased to Riya Healthcare, a corporate entity that has taken the space for business operations.
Ans 3. Over the 60-month tenure, the total estimated lease value is approximately ₹2.24 crore, with a security deposit of ₹24.66 lakh.
Ans 4. The lease agreement was registered on July 18, 2025, with a stamp duty of ₹57,500 and registration charges of ₹1,000.
Ans 5. The rent starts at ₹3.38 lakh per month in Year 1 and increases by 5% annually, reaching ₹4.11 lakh per month by Year 5.
Ans 6. Andheri West is a prime real estate destination due to its connectivity via highways, metro, and rail, its proximity to the airport, and a high concentration of media and corporate offices, making it attractive for both investors and tenants.
Ans 7. No. Earlier in 2025, Ghai purchased a luxury apartment in Bandra West for ₹24 crore, and sold a high-end apartment in Andheri West for nearly ₹13 crore. He is actively engaged in Mumbai’s premium real estate market.
Ans 8. This lease highlights the continued demand for premium commercial space in central micro-markets like Andheri West. Long-term lease commitments from established tenants reflect confidence in price stability and rental returns.