Ajay Devgn and Mother Veena Devgn Lease Juhu Bungalow for Rs 16 Lakh Monthly Rent
Bollywood actor Ajay Devgn and his mother, Veena Devgn, have leased a spacious bungalow in Mumbai’s upscale Juhu neighbourhood. The residential lease begins at a monthly rent of Rs 16 lakh, based on property registration documents accessed and analysed by real estate platform Square Yards from the Inspector General of Registration (IGR) website.
What Happened
According to the official leave and license agreement, the property is located in Kapol CHS Ltd. in Juhu, Mumbai. The bungalow spans a built-up area of 724.90 square metres (equivalent to 7,803 square feet). The transaction involved a security deposit of Rs 48 lakh, alongside stamp duty charges of Rs 2.71 lakh and registration fees of Rs 1,000.
The tenancy is structured for a 60-month (five-year) period. Under the terms of the contract, the initial rent of Rs 16 lakh per month will increase by 5 percent annually, reaching an estimated Rs 19.45 lakh per month by the fifth year. Over the complete five-year tenure, the cumulative payout for the lease is projected at approximately Rs 10.61 crore.
Key Highlights
- Location: Kapol CHS Ltd., Juhu, Mumbai.
- Total Area: 724.90 sq. m. (7,803 sq. ft.) built-up area.
- Starting Monthly Rent: Rs 16 lakh in the first year.
- Tenure: 60 months (5 years) with a 5% annual escalation, rising to around Rs 19.45 lakh per month in year five.
- Security Deposit & Fees: Rs 48 lakh deposit, Rs 2.71 lakh stamp duty, and Rs 1,000 registration fee.
- Total Lease Value: Approximately Rs 10.61 crore across the full five-year term.
Why This Matters
Juhu remains one of Mumbai’s most prestigious coastal micro-markets, known for limited availability of premium land, upscale celebrity residences, and established social infrastructure. The high rental values and structured escalation terms reflect the continued demand for luxury residential housing in prime western suburban locations.
What to Watch Next
The lease will progress under the agreed terms across the 60-month schedule, adhering to the standard 5 percent annual escalation until the end of the contracted period.
Frequently Asked Questions
Who are the lessees named in the transaction?
The lease agreement is registered under the names of actor Ajay Devgn and his mother, Veena Devgn.
What is the size and financial detail of the rental agreement?
The bungalow covers a built-up area of 7,803 square feet (724.90 sq. m.). The agreement includes a starting rent of Rs 16 lakh per month, a security deposit of Rs 48 lakh, and a total estimated five-year value of Rs 10.61 crore.
Source: Based on property registration details reported by Bollywood Hungama via Square Yards and the Inspector General of Registration (IGR).