Filmmaker Rakesh Roshan and his wife Pramila Rakesh Roshan have given their second-floor residential flat in Hiralaya, N.S. Road, JVPD Scheme, Mumbai – 400 049, on leave and licence for three years, according to the registered Leave and Licence Agreement provided by CRE Matrix, a real estate data analytics firm. The licensee is Mrs. Asavari Rajopadhye, earlier residing at A-2004, Hubtown Premier Residency Tower, Mudran Kamgar Nagar, Versova, Andheri West.
The agreement was executed at Mumbai and registered on 24 August 2026 before the Joint Sub-Registrar, Mumbai 8 (Mumbai Suburban). Stamp duty of ₹49,000 and registration fee of ₹1,000 — totalling ₹50,000 — were paid, with document handling charges of ₹2,200 separately receipted. Clause 17 of the agreement says stamp duty and registration charges are to be shared equally by both sides. The original registered instrument is to remain with the licensors; the licensee retains the second copy.
Tenure, commencement and rent
The licence is for a period of 3 years. The licence commencement date and the rent commencement date are both 15 August 2026. The licence ends on 14 August 2029, provided the licensee observes the terms of the agreement.
Monthly licence fee starts at ₹5,00,000 (₹5 lakh), payable in advance on or before the 5th of each month, subject to tax deducted at source under the Income Tax Act. There is a rent escalation of 5% per annum from the second year, calculated on the then-prevailing licence fee:
That works out to about ₹60 lakh in the first year, ₹63 lakh in the second year and about ₹66.15 lakh in the third year — a contracted rental outgo of roughly ₹1.89 crore over the full three-year term. The registered papers accessed through CRE Matrix do not state the carpet or built-up area of the flat.
Deposit and utilities
The licensee has paid an interest-free security deposit of ₹21,75,000. The agreement records at least one ICICI Bank cheque of ₹10 lakh dated 24 June 2026 towards this deposit. The deposit is to be refunded without interest on expiry or earlier determination, after deducting unpaid licence fee, electricity and other outgoings, and the cost of damage beyond normal wear and tear. If the licensors delay the refund, interest at 12% per annum is payable.
The licensee must pay electricity, telephone, internet, cable TV, newspapers, cooking gas and other utility bills directly to the service providers and hand over photocopies of paid bills. Unpaid bills can lead to disconnection and recovery of penalties and reconnection charges. The licensors will bear property tax, society charges and car-park charges for the premises. Structural and major repairs (roof leakage, electrical wiring, bursting water pipes, defective sewerage) are the licensors’ responsibility on written request; day-to-day and minor repairs are the licensee’s.
Use, lock-in and exit
The grant is under Section 24 of the Maharashtra Rent Control Act, 1999. Occupation is strictly residential, for the licensee and her family only. Sub-letting, assignment, guest-house use, structural change and bringing in additional furniture or appliances without consent are barred. The licence is personal and temporary; the licensee has agreed that occupation will not create a tenancy or any protection under the Rent Control Act.
There is a two-year lock-in. During that period neither side may terminate the agreement. Three months before the three-year term ends, the licensee must renegotiate if she wants a renewal; otherwise the licensors may show the flat to others and the licensee must cooperate. Breach that is not cured within 15 days of written notice allows the licensors to treat the licence as terminated.
If the licensee fails to vacate on expiry or earlier determination, she is liable to pay ₹25,000 per day as liquidated damages, without prejudice to the licensors’ right to recover double compensation under Section 24(2) of the Act and to proceed before the competent authority. The licensors have retained the original set of keys and given the licensee two sets; no duplicate keys or extra locks are permitted. Inspection is allowed on 48 hours’ notice, and immediately in an emergency.
The licensors may sell, mortgage or otherwise deal with the flat during the licence without the licensee’s consent, without affecting the licence itself. Mumbai courts have exclusive jurisdiction.
Who the parties are
The licensors are Mrs. Pramila Rakesh Roshan (PAN ACHPN7178F) and Mr. Rakesh Roshan (PAN AAAPN6200B), who reside at Palazzo, No. 12, N.S. Road, JVPD Scheme, Mumbai – 400 049 — a short distance from Hiralaya on the same road. Notices to the licensors are also to go to Plot No. B-27, 1st Floor, Commerce Centre, Off New Link Road, Andheri (West). The licensee is Mrs. Asavari Rajopadhye (PAN ALZPR5262K). Witnesses to the execution include Mukesh Mishra and Daksh Arya. Power-of-attorney papers from 2014 in favour of Chandan Chhajed were annexed and used for presentation before the Sub-Registrar.
JVPD remains one of Mumbai’s most tightly held residential pockets, mixing bungalows, older societies and premium apartments. A starting rent of ₹5 lakh a month on a second-floor flat in Hiralaya underlines how steep asking rents have stayed in this micro-market even for a time-bound leave-and-licence, not a tenancy.
The documents do not disclose the flat’s area, parking count or a public inventory of fittings (Annexure A is referred to in the agreement). What they do show, in black and white, is a three-year, 5%-escalating residential licence starting 15 August 2026 at ₹5 lakh a month, backed by a ₹21.75 lakh deposit and a two-year lock-in — a transaction now on the public registration record, first accessed and circulated by CRE Matrix.
Also Read: Hrithik and Rakesh Roshan Sell Mumbai Properties Worth ₹6.75 Crore in Andheri West
