SBI leases 3,150 sq ft space owned by Amitabh Bachchans in Juhu

11 Oct 2021 CW Team

State Bank of India (SBI) has leased a ground floor of a property owned by Amitabh Bachchan in Mumbai's Juhu locality.

The state-owned bank has entered into a contract with the Bollywood star and his son Abhishek Bachchan to rent 3,150 sq ft in a building close to the family residence, Jalsa, in Juhu. Additionally, the Bachchans own the Janak, Ammu, Vatsa and Prateeksha bungalows in Juhu.

The bank has consented to pay Rs 18.9 lakh as monthly rent for a 15 year lease. The rent will observe a 25% surge every five years, displayed documents obtained through Zapkey.com.

The bank has spent a security deposit of more than Rs 2.26 crore, equal to a year's rent. On 28th September 2021, the deal was registered.

SBI is likely to install a branch in the space, which was recently vacated by Citibank.

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Also read: Model builder-buyer agreement crucial for realty sector in India: SC

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