Ajay Devgn and his mother, Veena Devgn, have entered into a five-year lease agreement for their sprawling bungalow in Mumbai’s Juhu, with the total rental income from the property estimated at Rs 10.61 crore. The details are contained in property registration documents accessed by Zapkey.The leave and licence agreement was registered on August 10, 2026. The 7,802.75 sq ft bungalow is situated at Kapole CHS Ltd on N S Road No. 11 in the JVPD Scheme area of Juhu, opposite Daftary Nursing Home. Florian Hurel Salons Private Limited has taken the property on lease.According to the registered documents, the bungalow has a built-up area of 724.90 sq m. The tenancy begins with a monthly rent of Rs 16 lakh during the first year, with a 5% escalation every year. The monthly rental will increase to Rs 16.8 lakh in the second year, Rs 17.64 lakh in the third, Rs 18.52 lakh in the fourth and Rs 19.45 lakh in the fifth year.The agreement also requires a security deposit of Rs 48 lakh. The transaction attracted stamp duty of Rs 2.71 lakh, while Rs 1,000 was paid towards registration charges.Ajay Devgn, whose legal name is listed as Vishal Veery Devgn, and Veena Devgn are named as the lessors in the agreement. Mohnish Shashikant Dhavale has acted on their behalf through a power of attorney. Florian Hurel Salons Private Limited is the lessee, with Zarir Furshostre Meherji signing as its authorised representative.The property has previously been linked to a substantial loan transaction involving the actor. In 2021, Ajay Devgn reportedly raised a loan against the bungalow. Earlier reports citing Zapkey.com stated that he had acquired the property for Rs 47.5 crore and subsequently taken a loan of Rs 18.75 crore.The bungalow was purchased on December 29, 2020, while the loan was secured on April 27, 2021, according to the documents. Ajay Devgn paid Rs 2.37 crore in stamp duty at the time of the transaction. The records further indicate that the property changed hands through a transfer deed rather than a conventional sale deed.Juhu continues to be among Mumbai’s most sought-after residential pockets, particularly for luxury housing and celebrity residences. According to Square Yards, the neighbourhood benefits from its coastal location, connectivity to major commercial hubs and access to established retail, hospitality, entertainment and social infrastructure. The limited supply of premium land, coupled with continued demand for upscale homes, has helped sustain high property values in the area.Ajay Devgn has built a career spanning acting, filmmaking and production since making his debut with ‘Phool Aur Kaante’ in 1991. Over the years, he has appeared in films such as ‘Dilwale’, ‘Zakhm’, ‘Company’, ‘The Legend of Bhagat Singh’, ‘Omkara’, ‘Singham’ and ‘Drishyam’. He is also a recipient of multiple honours, including two National Film Awards for Best Actor, and has expanded his work in the industry through filmmaking and production.Veena Devgn, a film producer and Ajay Devgn’s mother, has also been associated with Hindi cinema. Her production credits include the 1999 family drama ‘Dil Kya Kare’, which featured Ajay Devgn, Kajol and Mahima Chaudhry, according to Square Yards.
