Ajay Devgn Leases Juhu Bungalow for Estimated ₹10.61 Crore Over Five Years
Actor Ajay Devgn and his mother Veena Devgn have leased their 7,802 sq ft Juhu bungalow to Florian Hurel Salons Private Limited under a five-year agreement.
- Ajay Devgn’s Juhu bungalow has been leased for five years, with the total rent estimated at ₹10.61 crore.
- The monthly rent starts at ₹16 lakh and will rise by 5% annually under the agreement.
- The property, located in Mumbai’s Juhu, has previously been linked to a ₹18.75 crore loan secured by Devgn.
Mumbai: Bollywood actor Ajay Devgn and his mother, Veena Devgn, have leased their sprawling bungalow in Mumbai’s Juhu area for five years. According to registered property documents, the agreement was signed with Florian Hurel Salons Private Limited, with the total rental value estimated at around ₹10.61 crore over the lease period.
The leave and licence agreement was registered on August 10, 2026. The property measures approximately 7,802.75 sq ft and is located within Kapole CHS Ltd on N S Road No. 11 in the JVPD Scheme area of Juhu, opposite Daftary Nursing Home. The bungalow has a built-up area of about 724.90 sq m.
As per the registered agreement, the tenant will pay ₹16 lakh per month during the first year. The rent will then increase by 5% each year, reaching ₹16.8 lakh in the second year, ₹17.64 lakh in the third year, ₹18.52 lakh in the fourth year and approximately ₹19.45 lakh in the fifth year.
The agreement also includes a security deposit of ₹48 lakh. The transaction involved stamp duty of ₹2.71 lakh and registration charges of ₹1,000.
The registered documents identify Ajay Devgn, whose legal name is recorded as Vishal Veery Devgn, and Veena Devgn as the lessors. Mohnish Shashikant Dhavale represented them through a power of attorney.
Florian Hurel Salons Private Limited is listed as the lessee, with Zarir Furshostre Meherji signing the agreement as the company’s authorised representative.
The registered agreement itself is the key source for the rental and transaction details; no separate public statement from Ajay Devgn regarding the lease has been cited in the available records.
The Juhu bungalow has also featured in earlier financial transactions involving the actor. Property records cited in previous reports indicate that Devgn acquired the bungalow for around ₹47.5 crore and later raised a loan of approximately ₹18.75 crore against it.
The property was purchased on December 29, 2020, while the loan was secured on April 27, 2021. The purchase reportedly involved stamp duty of ₹2.37 crore. Records also indicate that the property was transferred through a transfer deed rather than a conventional sale deed.
The lease highlights the continued demand for high-value real estate in Mumbai’s Juhu neighbourhood, one of the city’s established luxury residential markets. Its coastal location, connectivity and proximity to entertainment, hospitality, retail and other urban amenities have helped keep demand for premium properties strong.
For owners of large residential properties in the area, leasing can provide a significant recurring income while allowing them to retain ownership of valuable real estate. The escalating rent structure in Devgn’s agreement also reflects the premium commanded by such properties.
The five-year lease will run with the agreed annual rent increases, taking the monthly payment from ₹16 lakh in the first year to nearly ₹19.45 lakh in the final year. The agreement gives the property a long-term commercial tenancy while Devgn and his mother continue to remain the listed owners.
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