Indian cricketer Shreyas Iyer has rented a luxurious house in Worli, Mumbai for a monthly fee of Rs 18.5 lakh. This fancy apartment is in Artesia, Worli, covering an area of 360 sq. m. (3,875 sq. ft.) and has four parking spaces. Iyer paid a stamp duty of Rs 1.84 lakh, registration charges of Rs 1,000 and a security deposit of Rs 74 lakh. The deal was officially registered in June 2026.
According to an analysis by Square Yards , Iyer's lease is set for 36 months. The monthly rent starts at Rs. 18.50 lakh for the first year and bumps up by about 7% to Rs. 19.79 lakh in the second year. It goes up again by approximately 7% to Rs. 21.18 lakh in the third year. Accordingly, the cumulative rental value over the entire three-year lease term is Rs 7.14 crore.
Worli is one of Mumbai's posh areas
Worli, South-Central Mumbai is known as one of the most prestigious and sought-after residential areas in Mumbai, known for its luxury waterfront developments, iconic skyline, and excellent connectivity. Since Worli is in South-Central Mumbai region, it offers a unique blend of upscale living, commercial significance, and long-term investment appeal.
Worli also enjoys seamless connectivity through the Bandra-Worli Sea Link, Eastern Freeway, and major arterial roads, providing convenient access to key business districts such as Bandra Kurla Complex (BKC), Nariman Point, Lower Parel, and Fort.
Mumbai rental price trend
According to Square Yards website, rental rates vary significantly by configuration, with studios averaging Rs 28,550 per month while luxury 6 BHK apartments command up to Rs 4.19 Lakh per month. Mumbai South remains the most expensive rental destination at Rs 200 per sq ft, while other micromarkets like the Central Suburbs, Harbour, and Western Suburbs hover around Rs 100 per sq ft. Rental growth is particularly notable in the Western Suburbs, which experienced a 6.06% increase.
Data from Square yards also shows that Mumbai South remains the most expensive rental destination at Rs 200 per sq ft, while other micromarkets like the Central Suburbs, Harbour, and Western Suburbs hover around Rs 100 per sq ft. Rental growth is particularly notable in the Western Suburbs, which experienced a 6.06% increase.
Rental performance across property types is mixed, with shops showing a 6.06% growth in rental rates. Conversely, showrooms and office spaces have seen corrections of -11.94% and -8.72%, respectively, highlighting a shift in commercial rental preferences.
Top-tier projects are leading the rental market, with Oberoi Three Sixty West commanding Rs 357 per sq ft. Other prestigious developments such as Khatau Mansion and Lodha Seamont also maintain high rental benchmarks, consistently attracting premium tenants.
