Salman Khan rents his Rs 120 crore building at Rs 80 lakh per month

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Salman Khan

Salman Khan recently rented out his property on the Linking Road in Bandra to the Future Group at a whopping Rs 80 lakh per month rent. Future Group is the owner of the Indian retail giant Big Bazaar and Khan leased out the property to them for a period of five years. The initial deposit was Rs 2.4 crore, which the company paid to the actor. Salman Khan had bought the property for Rs 120 crore in 2012 and Future Group would be using the property to open a Foodhall store.

Kishore Biyani of the Future Group has confirmed the specifics of the deal. The rent for the premises is set to increase to Rs 89.6 lakh per month after the first five years of the lease. The lease was signed by Salman Khan’s father Salim Khan on his behalf at the registration office on July 13, and the 2140 sq m commercial building is divided into four floors.

The basement has an area of 609.36 sq m, the ground floor spawning at an area of 373.21 sq m, the first floor covering 579.61 sq m of an area and finally the second floor occupying an area of 578.54 sq m. In order for the construction of this building, 16 flat-society was torn down and construction of the building started in 2013. The certificate of occupancy was, however, acquired this year. All the building permissions are under Salman Khan’s name. The building has yet to be named officially.

Future Group has revealed that Foodhall store is a lifestyle food superstore, with gourmet products found all around the world that would be available for purchase at the one-stop store. Future Retail compared Foodhall store to Godrej’s Nature’s Basket in terms of the products that would be available. Foodhall stores are currently open in Gurgaon, New Delhi, Mumbai, and Bengaluru.

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