According to property registration documents obtained by CRE Matrix, Bollywood star Sara Ali Khan has leased a premium home in Mumbai’s Andheri West to an educational institution under a structured five-year arrangement. The acquisition was completed on March 27, 2026, demonstrating ongoing institutional interest in large-format residential assets in major city micro-markets.

Prodigy Montessori India Private Limited has leased a bungalow in Belscot Co-operative Housing Society in the Old Lokhandwala Complex. The minimum monthly rent is ₹6.5 lakh. The property measures approximately 4,500 square feet and has a rental value of ₹144.44 per square foot.

Deal Structure and Rent Escalation

The lease lasts 60 months, with a 36-month lock-in period beginning May 1, 2026. The agreement has a step-up rental structure. The monthly salary begins at ₹6.5 lakh for the first two years and gradually climbs after the third year. The rent increases to ₹6.82 lakh in year 3, ₹7.16 lakh in year 4, and ₹7.52 lakh in year 5. The structured escalation brings the total rental outgo over the period to almost ₹4.14 crore. The tenant has paid a ₹20 lakh security deposit as per the agreement.

Property Use: Exclusive School Operations

The agreement says that the tenant will only utilize the property for school-related purposes. This obviously demonstrates an increasing trend of residential-to-institutional conversions in Mumbai’s high-end neighbourhoods. At the same time, the contract includes specific operational rules to ensure that the society retains its residential character. It restricts the admission of vehicles such as cars, buses, and vans onto the premises. It also requires that all student pick-up and drop-off activities occur outside the complex. In addition, the tenant must follow all society rules and any municipal legislation.

Location Advantage: Andheri West

Andheri West is still one of Mumbai’s most desirable micro-markets due to its excellent connectivity and established ecology. The site provides quick access to Versova, JVPD, and Link Road. It also benefits from its proximity to manufacturing facilities, corporate headquarters, and educational institutions. A broad mix of bungalows, high-rise projects, and commercial spaces continues to generate strong demand across all occupier sectors.

Recent transactions

Recent real estate activity demonstrates how celebrities are actively involved in commercial property transactions. High-value transactions involving premium assets demonstrate significant demand from occupiers. Actors are increasingly monetizing real estate through structured, long-term deals in key urban micro-markets.

Sohail Salim Khan recently sold an office unit in Andheri West, Mumbai, for ₹5.9 crore. The transaction was recorded based on the property registration data obtained by CRE Matrix.

The unit is situated at Arc One on New Link Road. It is on the tenth level and has a carpet area of 1,559 square feet. The agreement also includes three parking spaces.

Buyer Details and Registration

The buyer recorded the purchase on March 27, 2026. The stamp duty for the purchase was ₹35.4 lakh, indicating the asset’s premium character and location.

Background: Redevelopment and PAA Agreement.

Khan was originally assigned an office unit as part of a rehabilitation project in 2023. Under a Permanent Alternate Accommodation (PAA) agreement, the unit was provided in return for his previous location in the rebuilt “Chandra Gupta” building.

Chandra Gupta Estates Private Limited oversaw the reconstruction, which follows a standard concept in Mumbai: older structures are replaced with updated commercial spaces.

What Does This Mean for the Market

This sale demonstrates the sustained demand for premium office premises in major micro-markets like as Andheri West. It also demonstrates how redevelopment-led supply contributes to modern inventories while allowing stakeholders to monetise their assets.