Ajay Devgn rents out Mumbai bungalow for ₹16L a month
What's the story
Bollywood actor Ajay Devgn and his mother, producer Veena Devgn, have reportedly rented out their 7,802.75 sq ft bungalow in Mumbai's Juhu for five years to Florian Hurel Salons Private Limited. The deal is estimated to earn them ₹10.61 crore over the duration of the lease, per property registration documents accessed by Zapkey. The leave and license agreement was registered on Monday.
Financials
Monthly rent set at ₹16 lakh with 5% annual hike
The bungalow, located at Kapole CHS Ltd, NS Road No. 11, JVPD Scheme in Juhu, has a built-up area of 724.9 sq m (7,802.75 sq ft).
The monthly rent for the first year is ₹16 lakh with a 5% annual increase.
A security deposit of ₹48 lakh was also included in the agreement, along with stamp duty and registration charges of ₹2.71 lakh and ₹1,000, respectively.
Property details
Devgn bought property for ₹47.5 crore in December 2020
The actor had purchased the bungalow for ₹47.5 crore on December 29, 2020, and taken a loan of ₹18.75 crore against it on April 27, 2021, per media reports citing Zapkey.
The documents showed that the property was transferred through a transfer deed and not a sale deed.
Market insights
About Juhu and Devgn's career
Juhu is one of Mumbai's most sought-after residential localities, known for its upscale residences, celebrity homes, and high-end lifestyle amenities.
The area boasts excellent connectivity to major business hubs and a well-developed social infrastructure with retail, hospitality, and entertainment options.
On the work front, Devgn's filmography includes Phool Aur Kaante and Drishyam. The superstar recently starred in Dhamaal 4, and has Golmaal 5 and Ranger in his kitty.