Bollywood actor Ajay Devgn's Juhu bungalow has been leased for Rs 16 lakh monthly, with the five-year agreement projected to generate a total of Rs 10.61 crore. The property spans 7,802.75 sq ft and the rent will escalate by 5% annually.
Bollywood actor Ajay Devgn and his mother, Veena Devgn, have leased out their expansive 7,802.75 sq ft bungalow in Juhu, Mumbai, for a monthly rent starting at Rs 16 lakh, with the five-year agreement projected to yield a total of Rs 10.61 crore. The leave and license agreement, registered on August 10, 2026, involves Florian Hurel Salons Private Limited as the lessee. The property, situated in the Kapole CHS Ltd, N S Road No. 11, JVPD Scheme, opposite Daftary Nursing Home, is a significant real estate transaction in the upscale neighbourhood.
The Expansive Juhu Property
The leased bungalow, a substantial property spanning an impressive 7,802.75 sq ft, is strategically located in Juhu, Mumbai. This upscale residential and commercial hub is renowned for its celebrity residences, high-end amenities, and robust real estate market. The property, situated specifically in the Kapole CHS Ltd, N S Road No. 11, JVPD Scheme, opposite Daftary Nursing Home, stands out as a significant asset within this coveted area.
Juhu's appeal as a prime location in Mumbai often commands premium rental values, making the Devgn family's bungalow an attractive proposition for high-profile tenants. Its vast area of 7,802.75 sq ft further accentuates its value, offering ample space for the lessee, Florian Hurel Salons Private Limited, to establish their operations in a prestigious setting. This considerable footprint contributes significantly to the overall valuation of the lease agreement, which projects a total yield of Rs 10.61 crore over five years.
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The Rental Agreement Details
Under the terms of the agreement, the monthly rent for the first year is fixed at Rs 16 lakh. This amount will see an annual increase of 5% throughout the 60-month lease period.
For the second year, the rent will rise to Rs 16.8 lakh, further increasing to Rs 17.64 lakh in the third year. The fourth year will see a monthly payment of Rs 18.52 lakh, culminating in Rs 19.45 lakh by the fifth year. An interest-free refundable security deposit of Rs 48 lakh was also included in the deal.
Financial Projections and Property Background
The cumulative rental value over the five-year term is estimated at approximately Rs 10.61 crore, solidifying the property's status as a valuable asset for the Devgn family. This structured lease with escalating rent positions the bungalow as a substantial long-term commercial investment. This substantial income stream, totalling Rs 10.61 crore over five years, not only reflects the premium associated with the property's size and Juhu location but also provides a steady revenue stream for the actor and his family. The structured annual increment of 5% further safeguards the investment against inflation and ensures a growing return over the lease period.
The property's journey to this significant lease began when Ajay Devgn acquired the Juhu bungalow for Rs 47.5 crore on December 29, 2020. This substantial investment was followed by a loan of Rs 18.75 crore taken against the property on April 27, 2021, according to earlier reports, indicating strategic financial management related to the asset. The recent lease transaction itself incurred a stamp duty of Rs 2.71 lakh and registration charges of ₹1,000, underscoring the formal and legally robust nature of the agreement.
