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Actor Ajay Devgn and his mother, producer Veena Devgan, have leased a bungalow in Mumbai’s Juhu for five years, with the total rental value estimated at INR 10.61 crore. The property, located in Kapol Co-operative Housing Society, has a built-up area of around 7,803 square feet. The monthly rent starts at INR 16 lakh and will increase by 5% every year, reaching about INR 19.45 lakh in the fifth year. The registered agreement also includes an INR 48 lakh security deposit, with stamp duty and registration charges paid as part of the transaction.
Actor Ajay Devgn and his mother, film producer Veena Devgan, have leased out a bungalow in Mumbai’s Juhu area under a five-year leave and licence agreement. The total rental value of the agreement is estimated at around INR 10.61 crore, based on property registration documents reviewed by real estate platform Square Yards.
The bungalow is located in Kapol Co-operative Housing Society in Juhu and has a built-up area of 724.90 square metres, or around 7,803 square feet. The agreement was registered in August 2026.
The monthly rent under the agreement starts at INR 16 lakh in the first year. It will increase by 5% every year, taking the monthly rent to approximately INR 16.80 lakh in the second year, INR 17.64 lakh in the third year, INR 18.52 lakh in the fourth year and around INR 19.45 lakh in the fifth year. Over the 60-month lease period, the estimated rental value comes to INR 10.61 crore.
The agreement also includes an interest-free refundable security deposit of INR 48 lakh. Property registration details show that stamp duty of around INR 2.71 lakh was paid, along with a registration charge of INR 1,000.
The transaction is based on property registration documents reviewed by Square Yards through records available with the Inspector General of Registration, Maharashtra. The documents provide details of the property, rental terms and associated charges.
The lease adds to the recent high-value residential property activity in Juhu, one of Mumbai’s established premium housing markets. The area has a limited supply of large independent bungalows and remains a preferred residential location for several film industry personalities.
Juhu’s residential market has also seen substantial transactions involving large bungalows in recent years. Ajay Devgn himself purchased another bungalow in the locality in 2021, with reports at the time putting the transaction value at around INR 60 crore. The property was located close to his existing residence, Shakti.
The current lease also highlights the rental potential of large residential properties in established parts of Mumbai. Unlike a fixed-rent agreement, the annual 5% escalation provides for a gradual increase in rental income during the five-year tenure.
The transaction is also notable for the size of the property. A built-up area of about 7,803 square feet places the bungalow in a segment where comparable rental options are limited. Such properties are difficult to replicate because of the scarcity of large plots in established western suburban locations.
For Juhu, transactions of this nature provide an indication of the rental levels being accepted for sizeable residential properties. The combination of limited land availability, established infrastructure and continued demand for independent homes supports the premium rental values seen in the locality.
The five-year lease structure also gives the owners a defined rental arrangement with annual escalation, while the tenant receives a longer tenure with pre-agreed rental terms. The registration of the agreement provides a formal record of the transaction and its financial conditions.
The latest deal comes as Mumbai continues to see demand for premium rental homes, particularly in established neighbourhoods such as Juhu, Bandra and nearby western suburbs. While apartments account for a large share of the city’s rental market, independent bungalows remain a separate segment because of their limited availability and larger sizes.
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