Debt-ridden Future Group’s Food Hall vacates Salman Khan’s property in Santacruz, Mumbai; taken over by Food Square at a rental of Rs. 1 crore a month

The gourmet supermarket Food Hall was famous not just for its exotic and expansive variety of food but also because it was frequented by several celebrities. Bollywood actors and actresses like Deepika Padukone, Saif Ali Khan, Sara Ali Khan, Disha Patani, Ananya Panday, Sunny Leone etc, have been clicked while entering or exiting Food Hall by the paparazzi and hence, its popularity reached far and wide. However, the 4-floor space, owned by superstar Salman Khan, was vacated by Food Hall some months ago. It has now been replaced by a new chain, Food Square.

Salman Khan bought the property at Linking Road, Santacruz West, Mumbai in 2012 for around Rs. 120 crores with the intention to use it for commercial purposes. It was leased out to Food Hall in July 2017. As per reports, it was Salman Khan’s father who did the paperwork. The reports at that time stated that the deal was signed for Rs. 80 lakhs per month as rent for a period of five years, after which it was going to increase to Rs. 89.60 lakhs per month. Future Group, currently debt-ridden, had also given a deposit of Rs. 2.40 crore to Salman Khan.

Once the five-year period was over, Salman Khan reportedly renewed the agreement with Food Hall for two years, in 2022. As per the conditions in the agreement, the retail giant was to pay him Rs. 89.60 lakhs per month for the first year and Rs. 94.08 lakhs per month in the second year.

Then, news came in March 2023 that Salman Khan wanted to terminate the agreement and seek back the property, supposedly due to non-payment of dues. The National Company Law Appellate Tribunal (NCLAT) in April ruled in the star’s favour.

As per a report in The Economic Times, LandCraft Retail, which owns Food Square, will pay a rent of Rs. 1 crore per month to use the prime space. The story also states that just like Food Hall, Food Square has also tied up with Versace for its collection of cutleries, live stations by Entisi Chocolate, and Italian food at Oliveology.

On the work front, Salman Khan is gearing up for the release of Tiger 3, co-starring Katrina Kaif and Emraan Hashmi. It’ll release in cinemas on Diwali this year.

Also Read: Shah Rukh Khan and Salman Khan reunite as they seek blessings at Maharashtra CM Eknath Shinde’s Ganesh Chaturthi celebrations, watch videos

from Latest Bollywood News | Hindi Movie News | Hindi Cinema News | Indian Movies | Films - Bollywood Hungama https://ift.tt/8LwpAfo