Shreyas Iyer Invests in Mumbai Real Estate

Shreyas Iyer, the captain of the Kolkata Knight Riders, has made a notable investment in real estate by purchasing a commercial property in Worli, Mumbai, for ₹2.9 crore. This purchase is part of a growing trend among sportspersons seeking to invest in income-yielding properties.

The sale deed for Iyer’s new property was finalized on July 16. The property, which is situated in the Godavari Industrial CHSL building in Adarsh Nagar, spans 510 sq ft in carpet area. The cost per square foot for the deal comes to around ₹56,863.

Iyer wasn’t available for comments regarding his recent investment. However, this isn’t the first time a cricketer has made headlines for real estate ventures. In September 2020, another star cricketer purchased an impressive 2,380 sq ft apartment on the 48th floor of The World Towers in Mumbai for ₹12 crore, costing ₹49,817 per square foot.

Adding to this landscape, in July 2018, the same player acquired a 1,701 sq ft apartment in Worli for ₹8.4 crore. The trend is quite popular among celebrities too; renowned figures like Amitabh Bachchan and Ajay Devgn have also invested in commercial properties to generate high rental yields.

Just this March, fellow cricketer Virat Kohli entered a leasing agreement for 12 office spaces in Gurugram, with a starting monthly rent of ₹8.85 lakh for a nine-year lease. The office area totals 18,430 sq. ft, accompanied by 37 car parking spaces.

Moreover, Rohit Sharma recently leased two apartments in Bandra West for ₹3 lakh per month over a three-year period. In another case, Indian cricket team all-rounder Hardik Pandya and his brother Krunal rented three ‘jodi’ apartments in Lower Parel, with a total monthly rent of ₹7.5 lakh.