Bollywood actor Madhuri Dixit has picked up a commercial unit in central Mumbai’s Lower Parel through a long-term lease of over five years with the total rental outgo estimated at Rs 2.81 crore.

The transaction, registered earlier this month, pertains to a commercial space in One Lodha Place, an office development in the micro-market. The leased unit has a carpet area of 731 sq ft and comes with one car parking slot.

The deal involved a stamp duty payment of Rs 72,600 and she, as a tenant, has also paid a security deposit of Rs 17 lakh at the time of the deal registration, showed the documents reviewed by Square Yards on the website of the Inspector General of Registration and Controller of Stamps, Maharashtra.

The lease agreement is structured over 60 months, with a 5% annual escalation. The monthly rent rises from Rs 4.25 lakh in the first year to Rs 4.46 lakh in the second, Rs 4.68 lakh in the third, Rs 4.91 lakh in the fourth, and Rs 5.16 lakh in the fifth year.

In October 2022, she had purchased a sea-view luxury apartment in a super-premium residential project on Dr. E Moses Road in neighbouring plush Worli locality. The apartment spread over 5,384 sq ft on the 53rd habitable floor with views of Arabian Sea and the Mahalaxmi Racecourse ranked among the top deals of that year.

ET’s email query and calls to the Dixit-Nene family remained unanswered.

Lower Parel-Worli has emerged as one of Mumbai’s key commercial and residential hubs, driven by the redevelopment of erstwhile mill land into premium office spaces, luxury residences and mixed-use developments.

The micro market’s proximity to major business districts including Bandra-Kurla Complex (BKC) and Nariman Point, along with strong connectivity through arterial roads and suburban rail, continues to support demand.

Lower Parel also houses prominent commercial and retail destinations such as High Street Phoenix and Palladium Mall, reinforcing its positioning as a high-demand urban business district.