Bollywood superstar Shah Rukh Khan is set to move out of his iconic sea-facing home "Mannat" in Mumbai's Bandra, a place where hundreds of fans gather daily just to catch a glimpse of him.

After leaving Mannat, Shah Rukh and his family will temporarily relocate to a residence in Pali Hill, Hindustan Times reports.

The reason behind Shah Rukh's departure after more than 25 years is an extensive renovation and expansion project planned for Mannat.

The renovation work is expected to begin in May this year. Since Mannat is classified as a Grade 3 Heritage Structure, Shah Rukh had to get court approval before making any structural changes.

Before the renovation starts, Shah Rukh, his wife Gauri Khan, daughter Suhana Khan, and sons Aryan Khan and Abram Khan will move into a luxurious apartment in Pali Hill.

Shah Rukh has rented the apartment from producer Vashu Bhagnani. For the four floors of the apartment, Shah Rukh will pay Rs 2.4 million per month.

The new residence will accommodate not just the Khan family but also their security personnel and household staff. Additionally, some operations of Shah Rukh's production house Red Chillies Entertainment will be managed from there.

Shah Rukh's security team is already working on ensuring the safety of the new apartment. He has leased four floors of the building -- the 1st, 2nd, 7th, and 8th floors, which consist of two duplex apartments, on a three-year lease.

It's not clear whether the family will stay in the apartment for the entire duration of the lease, but reports suggest that the renovation of Mannat could take up to two years.