Renowned Ajay Devgn, a prominent figure in Hindi cinema, along with his mother, Veena Devgn, have finalized a substantial five-year lease agreement for their expansive bungalow nestled in Mumbai’s coveted Juhu neighborhood. This strategic move is projected to generate a total rental income of an impressive Rs 10.61 crore over the duration of the lease. The intricate details of this significant property transaction have been meticulously documented in official property registration papers, which were subsequently accessed and brought to light by Zapkey.
The formal leave and license agreement was officially registered on August 10, 2026, solidifying the terms of the tenancy. The bungalow, boasting a generous built-up area of 7,802.75 square feet (equivalent to 724.90 square meters), is strategically located within the Kapole CHS Ltd on N S Road No. 11, situated in the prestigious JVPD Scheme area of Juhu, directly opposite the Daftary Nursing Home. The lessee for this prime property is Florian Hurel Salons Private Limited, marking a new chapter for the opulent residence.
Under the terms of the registered agreement, the initial monthly rent for the first year has been set at Rs 16 lakh. This will be followed by a structured 5% annual escalation, ensuring a steady increase in rental income over the lease period. Consequently, the monthly rental will adjust to Rs 16.8 lakh in the second year, Rs 17.64 lakh in the third year, Rs 18.52 lakh in the fourth year, and finally reaching Rs 19.45 lakh in the fifth and final year of the agreement.
Further financial stipulations of the agreement include a substantial security deposit of Rs 48 lakh, demonstrating the commitment of the lessee. The transaction itself incurred a stamp duty of Rs 2.71 lakh, along with an additional Rs 1,000 paid towards registration charges, adhering to all necessary legal and financial protocols.
In the official documentation, Ajay Devgn, whose legal name is Vishal Veery Devgn, and Veena Devgn are explicitly named as the lessors. Mohnish Shashikant Dhavale acted on their behalf, exercising a power of attorney to execute the agreement. On the other side of the transaction, Florian Hurel Salons Private Limited is designated as the lessee, with Zarir Furshostre Meherji signing as its authorized representative.
This property has a notable history, having been previously involved in a significant loan transaction linked to the acclaimed actor. Back in 2021, reports indicated that Ajay Devgn had secured a loan against this very bungalow. Earlier disclosures, also citing Zapkey.com, revealed that he had originally acquired the property for Rs 47.5 crore and subsequently obtained a loan of Rs 18.75 crore against it.
The initial purchase of the bungalow was completed on December 29, 2020, with the loan being secured several months later on April 27, 2021, as per the official records. At the time of acquisition, Ajay Devgn paid a substantial stamp duty of Rs 2.37 crore. Interestingly, the property was transferred through a transfer deed, rather than a conventional sale deed, indicating a potentially different mode of acquisition.
Juhu continues to maintain its status as one of Mumbai’s most highly sought-after residential enclaves, particularly appealing to those seeking luxury housing and celebrity residences. According to analyses by Square Yards, the neighborhood’s desirability stems from its picturesque coastal location, its excellent connectivity to major commercial hubs, and its access to a well-established infrastructure of retail outlets, hospitality services, entertainment venues, and social amenities. The inherent scarcity of premium land in the area, coupled with persistent demand for upscale homes, has consistently contributed to the sustained high property values witnessed in this exclusive locality.
Ajay Devgn’s illustrious career in the Indian film industry spans several decades, encompassing roles as an actor, filmmaker, and producer. He made his impactful debut with ‘Phool Aur Kaante’ in 1991 and has since graced the silver screen in numerous critically acclaimed and commercially successful films. His filmography includes iconic titles such as ‘Dilwale,’ ‘Zakhm,’ ‘Company,’ ‘The Legend of Bhagat Singh,’ ‘Omkara,’ ‘Singham,’ and ‘Drishyam.’ His exceptional talent has been recognized with multiple accolades, including two National Film Awards for Best Actor, further cementing his stature in the industry. Beyond acting, Devgn has also significantly contributed to the industry through his ventures in filmmaking and production.
Veena Devgn, a respected film producer and the mother of Ajay Devgn, has also made her mark in Hindi cinema. Her production credits include the 1999 family drama ‘Dil Kya Kare,’ a film that featured her son Ajay Devgn alongside Kajol and Mahima Chaudhry, as highlighted by Square Yards.
