🏡 1. Premium Juhu Bungalow Leased for Five Years
Bollywood actor Ajay Devgn and his mother, Veena Devgn, have entered into a five-year leave and licence agreement for their sprawling bungalow in Juhu, Mumbai. The property measures around 7,802.75 sq ft and the agreement was registered on August 10, 2026. The deal is estimated to generate ₹10.61 crore in total rental income over the five-year period.
📍 2. Property Located in Mumbai’s JVPD Scheme
The bungalow is situated at Kapole CHS Ltd on N S Road No. 11, in the prestigious JVPD Scheme area of Juhu, opposite Daftary Nursing Home. The property has a built-up area of approximately 724.90 sq m. Juhu remains one of Mumbai’s sought-after residential locations, particularly for luxury homes and celebrity residences.
💰 3. Lease Expected to Generate ₹10.61 Crore
The five-year lease is expected to generate approximately ₹10.61 crore in rental income. The property has been leased to Florian Hurel Salons Private Limited, making the transaction an example of how premium real estate assets in Mumbai can generate substantial rental returns over a longer lease period.
💵 4. Monthly Rent Starts at ₹16 Lakh
Under the registered agreement, the monthly rent starts at ₹16 lakh for the first year. The agreement includes an annual escalation clause, allowing the rent to increase by 5% every year. This structure gradually increases the rental income generated from the property throughout the five-year tenure.
📈 5. Rent Will Increase Every Year
With the 5% annual escalation, the monthly rent will rise to ₹16.8 lakh in the second year, ₹17.64 lakh in the third year, ₹18.52 lakh in the fourth year and ₹19.45 lakh in the fifth year. The agreement also includes a ₹48 lakh security deposit, adding to the financial terms of the lease.
🏦 6. Property Has a Significant Financial History
The Juhu bungalow has previously been involved in a major property transaction. According to reports cited by TOI, Ajay Devgn acquired the property for approximately ₹47.5 crore on December 29, 2020. In 2021, the property was reportedly used to secure a ₹18.75 crore loan, with the loan transaction dated April 27, 2021. The original property transaction also involved around ₹2.37 crore in stamp duty.
🌆 7. Juhu Continues to Command Premium Property Values
The lease highlights the continued demand for high-value real estate in Juhu, one of Mumbai’s established luxury residential markets. Its coastal location, connectivity to major commercial areas and access to retail, hospitality and entertainment infrastructure contribute to its appeal. Limited availability of premium land, combined with demand for upscale housing, continues to support property values in the area.
🏡Ajay Devgn Leases Out Juhu Bungalow for ₹10.61 Crore