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Bollywood star Ajay Devgn has leased a 2,545 square foot office space for INR 5.47 lakh a month in Andheri West, Mumbai. The five-year lease, registered earlier this month, involves a security deposit of INR 16.42 lakh. The rental agreement includes a clause for an increase to INR 6.29 lakh per month after three years. This transaction is part of Devgn's broader investment in commercial real estate, having acquired five office units in the Signature by Lotus building for INR 45.09 crore in April 2023. The current lease is with Bombay Design Centre Pvt Ltd.
Bollywood actor Ajay Devgn has leased a 2,545 sq. ft. office unit in Mumbai's Andheri West for INR 5.47 lakh per month, according to property registration documents accessed by Square Yards. The five-year lease, registered earlier this month, includes a security deposit of INR 16.42 lakh and a stamp duty of INR 85,500. The agreement stipulates a rental increase to INR 6.29 lakh per month after three years. Advertisement
The leased property is situated in the Signature by Lotus building on Veera Desai Road, a prime commercial area in Andheri West. The building offers seamless access to major highways and metro stations, while being in close proximity to the international airport, making it a sought-after location for businesses. The locality's vibrant mix of retail, dining, and entertainment options further enhances its appeal as a business hub.
This lease is part of Devgn's strategic investment in commercial real estate. In April 2023, he acquired five office units in the Signature by Lotus building for INR 45.09 crore. These units, totalling over 13,000 sq. ft., include 14 parking spaces. The current lease with Bombay Design Centre Pvt Ltd is one of these units.
The Signature by Lotus building's strategic location and the property's competitive rental yield make it an attractive option for businesses. As the demand for well-located office spaces continues to rise, such investments are likely to offer both financial returns and long-term value appreciation.
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