Now Reading: Ajay Devgn leases Juhu bungalow for Rs 10.61 crore over five years
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Ajay Devgn leases Juhu bungalow for Rs 10.61 crore over five years
Ajay Devgn and his mother Veena Devgn have leased their 7,803 sq ft bungalow in Mumbai's Juhu for five years, with monthly rent starting at Rs 16 lakh and rising 5% annually.…
The Story in Brief
Ajay Devgn and his mother Veena Devgn have leased their 7,803 sq ft bungalow in Mumbai's Juhu for five years, with monthly rent starting at Rs 16 lakh and rising 5% annually. The lease, registered in August 2026, is expected to generate about Rs 10.61 crore in total rental income, according to property documents reviewed by Square Yards and Zapkey.
The tenant is Florian Hurel Salons Private Limited. A security deposit of Rs 48 lakh was paid, and stamp duty of Rs 2.71 lakh was recorded. The bungalow, located in Kapol CHS, was purchased by Devgn for Rs 47.5 crore in December 2020, against which he raised a loan of Rs 18.75 crore in 2021, reports Zapkey.
The Indian Opinion
The coverage frames this as celebrity-wealth voyeurism, but the numbers tell a more routine landlord story: a 10.6% gross yield over five years on a Rs 47.5 crore purchase is modest for Mumbai luxury real estate. The Juhu market itself shows price stagnation, with average asking prices dipping quarter-on-quarter. The real test will be whether falling under-construction rates and low demand for 2-3 BHKs signal a broader softening, or if ready-to-move premiums hold up.
Sources (3): economictimes.indiatimes.com, timesofindia.indiatimes.com, livemint.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
