Ajay Devgan, a well-known Bollywood actor, along with his mother, Veena Devgan, has signed a rental agreement for a luxurious bungalow in Mumbai’s affluent Juhu area. The initial rent for this property is set at Rs. 16 lakh per month, as per property registration records examined by a real estate platform.
The official lease agreement was registered in August 2026. The bungalow, located in Kapol CHS Ltd., boasts a spacious area of 7,803 square feet and includes a security deposit of Rs. 48 lakh. Additionally, the total cost of registering the lease involved a stamp duty of Rs. 2.71 lakh and a nominal registration charge of Rs. 1,000.
Juhu is renowned for its upscale living, featuring a mix of celebrity homes and luxury lifestyle options. It offers a picturesque beachfront setting and easy access to major business centers. The area remains popular for high-end residential properties, thanks to its well-established social amenities, retail shops, hospitality services, and entertainment venues. The ongoing demand for premium housing combined with the limited availability of land helps maintain high property values in this region.
According to analysis from the real estate platform, the rental agreement spans five years, with a 5% increase in rent each year. This means that while the rent starts at Rs. 16 lakh in the first year, it will rise to approximately Rs. 19.45 lakh by the fifth year. Over the entire lease period, the total rental value is estimated to reach around Rs. 10.61 crore.
