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Bollywood superstar Ajay Devgn has successfully added another achievement in his property portfolio, leasing out a Grade A office space in Andheri West, Mumbai. The deal, with the office unit size of 2,545 sq ft, is at a monthly rental of ₹5.47 lakh as per the property registration documents obtained by Square Yards. The development is related to the actor’s continued investment in high-grade commercial properties, which have been generating steady returns on investment.
Key Details of the Lease Agreement
The leased office premises are situated in the well-known Signature by Lotus building on Veera Desai Road, Andheri West. As disclosed in the property documents:
- Tenant: Bombay Design Centre Private Limited.
- Lease tenure: Five years (May 2025 - April 2030).
- Monthly rent: Commencing at ₹5.47 lakh, increasing to ₹6.29 lakh after three years.
- Security deposit: ₹16.42 lakh.
- Stamp duty and registration charges: ₹85,500 and ₹1,000, respectively.
The lease was executed on May 2, 2025, in which the calculated rental escalations reflect the commercial space boom across prime locations in Mumbai.
Also Read: Akshay Kumar Sells Mumbai Properties Worth Over ₹100 Crore in Recent Deals
Rental Yield Analysis
Ajay Devgn's investment in the property illustrates his smartness as an investor in real estate. Square Yards had stated:
- The expected rental yield for the first three years is approximately 6.5%, and for the following two years, the return would be around 7.5%.
- The office unit is one of three adjacent units purchased by Devgn in April 2023, for approximately ₹30.35 crore. The (3) units are also around 2545 sq ft in size and cost ₹10.12 crore each.
A Closer Look at Ajay Devgn’s Real Estate Portfolio
Ajay Devgn has invested significantly in commercial real estate in Mumbai. In the Signature building alone, he has acquired five office units with over 13,000 sq ft of combined commercial space, along with 14 parking units, and he occupies the 16th and 17th floors of the building.
Recent Leasing Deals:
- Leased 4,200 sq ft of office space in the same building in June 2024 for ₹9 lakh/month.
- Leased 3,455 sq ft of the commercial space in September 2024 for ₹7 lakh/month.
- Renewal of his existing lease agreement with Saraswat Co-operative Bank Limited for two commercial units (1,500 sq. ft.) in Andheri for ₹ 4.16 lakh/month.
- Under the monthly leasing agreement signed in 2019, he is accepted by the Saraswat Co-operative Bank Limited for the required additional infrastructure, for which Devgn agreed to renew the leasing for a period of 5 years from December 2023 to December 2028.
The Strategic Importance of Andheri West
Andheri West sits in Mumbai’s commercial centre. The finest media houses, corporate offices, and production studios, are located in this area. This location has excellent options for connectivity with everything from the Western Express Highway to metro services putting it in a strategic position in Mumbai. It makes perfect sense for companies to look for office space for lease in Andheri West. Ajay Devgn's leasing in Andheri West is leveraging the strong demand for high-quality commercial property in that locality.
Also Read: Vicky Kaushal Extends Lease on Luxurious Juhu Apartment for ₹6.2 Crore
Real Estate Investments: A Lucrative Avenue
Ajay Devgn's constant attention to real estate investments demonstrates an increasing trend of Bollywood stars diversifying their interests. Real estate, especially in metropolitan cities like Mumbai, has:
- High rental returns: Locations like Andheri West, dominated by expats, are guaranteed rental incomes.
- Appreciation of assets: Many premium commercial assets, like Andheri West, tend to experience great appreciation in value.
- Tax benefits: There are tax breaks that you would not otherwise receive from capital gains and it makes your overall returns greater.
Conclusion
Ajay Devgn's 2,545 sq ft office space lease for ₹5.47 lakh a month shows Ajay's shrewdness and astuteness related to real estate investments. Ajay is favourably situated as to target commercial property high in demand in Mumbai, solidifying and adding to a growing list of wise real estate investments. With the Indian real estate environment changing, Ajay's new investments may have enormous long-term value.
Ajay Devgn's many real estate ventures give depth to his stature as a businessman and are value propositions for other industry partners and companies to look to add to their portfolios. The lease to the Signature building displays how the actor is favourably prepared to capture the opportunities real estate in Mumbai will bring.
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Ans 1. Ajay Devgn has leased a Grade A office space measuring 2,545 sq ft in the Signature by Lotus building on Veera Desai Road, Andheri West, Mumbai.
Ans 2. Monthly Rent: ₹5.47 lakh, escalating to ₹6.29 lakh after three years. Lease Tenure: Five years (May 2025 to April 2030). Security Deposit: ₹16.42 lakh. Stamp Duty and Registration Fees: ₹85,500 and ₹1,000, respectively.
Ans 3. The rental yield for the first three years is estimated at approximately 6.5%, increasing to 7.5% in the subsequent two years.
Ans 4. Ajay Devgn owns five office units totaling over 13,000 sq ft, including 14 parking spaces. He also occupies the 16th and 17th floors of the building.
Ans 5. Andheri West is a prime commercial hub with excellent connectivity via the Western Express Highway and metro services. The area is home to media houses, corporate offices, and production studios, making it a highly sought-after location for businesses.