Bollywood superstar Shah Rukh Khan has made a notable investment in Mumbai's upscale real estate market by leasing two luxury duplex apartments in the Pali Hill area of Khar. The lease agreements, valued at ₹8.67 crore over three years, involve the first and second, as well as the seventh and eighth floors of a building called Puja Casa.
The first duplex is leased from actor Jacky Bhagnani and his sister, Deepshikha Deshmukh, at a monthly cost of ₹11.54 lakh and a security deposit of ₹32.97 lakh. The second duplex, leased from producer Vashu Bhagnani, costs ₹12.61 lakh monthly with a ₹36 lakh deposit. Official documents indicate that the rental agreements were registered in February 2025, as per a News18 report.
Meanwhile, the superstar is set to receive a ₹9 crore refund from the state due to an error in premium calculation by the Mumbai suburban collectorate during the ownership transfer of his iconic sea-facing residence, Mannat. Originally acquired in 2001 from the Bai Khorshed Bhanu Sanjana Trust, Mannat transitioned to full ownership in 2019.
The error stemmed from the premium being calculated on both construction and land value rather than solely on the land. Satish Bagal, the resident suburban deputy collector, clarified, "The premium was to be paid on the value of the land. Instead, it was calculated on the basis of the entire construction costs plus the value of land."
The refund process was initiated after Gauri Khan, Shah Rukh's wife, filed an appeal in September 2022, revealing the calculation mistake. The appeal has been sanctioned, and the state is awaiting a formal government order to process the refund.
"We are awaiting the formal government order after which we will refund the excess ₹9 crore charged from Shah Rukh Khan," stated Bagal. This resolution brings closure to the financial oversight that had cost the Khans significantly.
In addition to these developments, Gauri Khan is working with the Maharashtra Coastal Zone Management Authority to expand the Mannat property. Plans have been submitted to add two floors to the six-storey annexe, increasing the living space by 616.02 sq. metres.
Meanwhile, another of Khan's properties, a sea-facing apartment at Shree Amrit CHSL on Carter Road, is also slated for redevelopment. Plans are underway with real estate developers to reconstruct the 4,000 sq. metre site, which includes three wings and over 45,000 sq. ft. of carpet area.