Mumbai, 15th August 2026: Bollywood actor Ajay Devgn and his mother, Veena Devgn, have leased out their bungalow in Mumbai’s Juhu for five years, with the property expected to generate around ₹10.61 crore in rental income over the lease period, according to property registration documents accessed by Zapkey.
The leave and licence agreement for the property was registered on August 10, 2026. The bungalow, located in Kapol CHS Ltd in Juhu’s JVPD Scheme, has a built-up area of 7,802.75 sq ft. It has been leased to Florian Hurel Salons Private Limited.
According to the agreement, the monthly rent has been fixed at ₹16 lakh for the first year. The rent will increase by 5% every year, rising to ₹16.8 lakh in the second year, ₹17.64 lakh in the third year, ₹18.52 lakh in the fourth year and around ₹19.45 lakh in the fifth year. Over the full five-year period, the estimated rental income will be ₹10.61 crore.
The agreement also includes a security deposit of ₹48 lakh. The transaction attracted a stamp duty of ₹2.71 lakh, while ₹1,000 was paid as registration charges.
Ajay Devgn and Veena Devgn are listed as the lessors, while Mohnish Shashikant Dhavale acted through a power of attorney. Florian Hurel Salons Private Limited is the lessee, represented by its authorised signatory Zarir Furshostre Meherji.
The Juhu bungalow was purchased by Ajay Devgn on December 29, 2020, for ₹47.5 crore, according to earlier reports citing property documents. In April 2021, he reportedly took a loan of ₹18.75 crore against the property.
