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Several rental transactions involving Bollywood stars have made news in the last few months, but the duration sets a few deals apart. Many of them have rented flats for just about three to 12 months. In October 2024, Shraddha Kapoor rented an apartment of over 3,900 sq ft in the Juhu area of Mumbai.
According to property registration documents accessed by Zapkey, she paid an annual rent of ₹ 72 lakh for 12 months. Another short-term rental deal was registered in December 2024 by actor and model Urvashi Rautela, who rented a 3,600 sq ft apartment in the Vile Parle area of Mumbai for three months between January 2025 and March 2025, according to the property registration documents accessed by IndexTap.com.
Also Read: Urvashi Rautela rents an apartment for ₹ 6 lakh per month in Mumbai "A few Bollywood celebrities are compelled to opt for short-term rentals since several housing societies and residential welfare associations refrain from taking them on as they do not want to be in the limelight. They, therefore, go in for short-term rentals before deciding to buy their own apartments," Ritesh Mehta, Senior Director at JLL India, said. Do short-term rentals receive income tax benefits? Aditya Zantye, Partner AKORD & Co Chartered Accountants, explained that an individual can avail of house rent allowance (HRA) deductions as long as they reside in the apartment.
Hence, it does not matter whether it is a short—or long-term rental. What is important is the leave and license agreement to claim a tax benefit, Zantye said. Also Read: Shraddha Kapoor rents luxury apartment in Mumbai for ₹ 6 lakh per month after Stree 2 success Demand for short-term rentals surged 14-15% in 2024 Mehta added that the demand for short-term rentals has surged over 14-15% since last year due to the paucity of luxury serviced apartments that provide such leases.
These short-term rentals are also more expensive than long-term rentals. These are at least 10-15% more expensive, he added Short-term rentals popular in Bengaluru among students and patients Sunil Singh, director of Realty Corps, added that in places like Bengaluru, if the rent for a standard apartment is ₹ 20,000, the landlords offering short-term rental options for a month will charge ₹ 30,000 to ₹ 35,000. In Bengaluru, short-term rentals are popular among students who come to the city for one or two months of internships or families who come for medical treatment.
"Service apartments in Bengaluru charge anywhere from ₹ 3000 to ₹ 15,000 per day depending on the area and type of apartment," Singh added..
