Karan Johar, a Bollywood screenwriter, director and producer, has revived the lease of two commercial properties owned by Dharma Productions by renting Rs 17.56 lakh and Rs 6.15 per month respectively, registration documents obtained by Zapkey.com said.
Vacation and license agreements were registered on August 25, 2021.
Dharma Productions Pvt Ltd is an Indian film production and distribution company founded by Karan Johar’s father Yash Johar in 1979.
The first agreement has been renewed since May 1, 2021, for the location of the second floor of the Supreme Chambers, Off Veera Desai Road in Andheri West, Mumbai.
The toll area is 11,374 sq ft and the rent is Rs 155 per sq ft per month. Lease term is renewed for 60 months.
The two leased leases previously registered in 2017 are now renewed from May 1, 2021.
A security deposit of Rs 75 lakh paid for the first asset and Rs 25 lakh for the second asset. The agreement stipulates a ten per cent annual employment increase, documents have shown.
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The second property, located on the same floor, has a charge area of 3,971 sq ft and a carpet area of 2,820 sq ft. Monthly employment is Rs 6.15 lakh and monthly average is Rs 155 per sq ft.
The second property is owned by Yashwan Productions Private Limited with Hiroo Yash Johar (mother of Karan Johar), Apoorva Jekisandas Mehta and Karan Yash Johar as directors.
A second leave agreement and license agreement was also signed on August 25, 2021. The second agreement was renewed from May 1, 2021.
The Upper Room consists of a floor and 10 floors and the total area of the building is approximately 250,000 sq ft.
Types of employers especially BFSI (back-end), media, shipping, etc.
The current rental costs are estimated at Rs 150 to Rs 165 per sq ft per month charged, ”said Bappaditya Basu, business executive, Anarock Commercial.
