Ajay Devgn leases commercial property in Andheri West, Mumbai, for a monthly rent of ₹9 lakh - Hindustan Times
close_game
close_game

Ajay Devgn leases commercial property in Andheri West, Mumbai, for a monthly rent of 9 lakh

Jun 24, 2024 05:23 PM IST

Ajay Devgn has rented out a commercial property located in a building called Lotus Signature in Veera Desai Road Extension, Andheri West, Mumbai, for five years

Ajay Devgn has leased an office space in Andheri West in Mumbai for a monthly rent of 9 lakh for five years, documents accessed by Propstack showed.

Ajay Devgn has leased an office space in Andheri West in Mumbai for a monthly rent of <span class='webrupee'>₹</span>9 lakh for five years.
Ajay Devgn has leased an office space in Andheri West in Mumbai for a monthly rent of 9 lakh for five years.

The lease agreement was registered on May 31, 2024.

The property is registered in the name of Vishal Virendra Devgan, whose screen name is Ajay Devgn. The Bollywood star has rented the office premises to MMM Media Works LLP, a Hyderabad-based firm. The office space is located in a building called Lotus Signature in Veera Desai Road Extension, Andheri West, Mumbai, the documents showed.

The size of the commercial space is 4209 sq ft and it comes along with three car parks, the documents showed.

The actor did not respond to the queries sent by HT Digital.

Why do Bollywood stars invest in commercial properties?

Several Bollywood stars have invested in commercial properties instead of residential ones for better rental yield.

Ajay Devgn had purchased five office units in Andheri West in Mumbai for 45.09 crore last year in April. The value of the three units located on the 16th floor was 30.35 crore and the stamp duty paid was 1.82 crore. The combined built-up area of the units was 8,405 square feet, registration documents showed.

Devgn had also purchased two office units on the 17th floor of the same building spread across 4,893 square feet (built-up area) for 14.74 crore, on which stamp duty of 88.44 lakh was paid, according to registration documents.

Properties bought by Devgn in the past


Three years back, Devgn had bought a bungalow in Juhu in Mumbai for 47.5 crore for which he had taken a loan of 18.75 crore.

Devgn’s wife, actress Kajol Devgan, had also purchased an apartment in Mumbai for 16.5 crore last year.

Also Read: Rohit Sharma leases two apartments in Mumbai for about 3 lakh per month

Ajay Devgn is also the founder of NY Cinemas. The company recently launched its first multiplex in Delhi NCR at Elan Epic Mall in Gurugram. The property is spread across an area of 46,000 sq ft and has a five-screen multiplex housing 890 seats.

Last year, Amitabh Bachchan had rented four commercial units measuring around 10,000 sq ft in the Oshiwara area of Mumbai for a yearly rent of 2.07 crore and paid a security deposit of 1.03 crore. The commercial space had been rented to Warner Music India Limited for five years, according to documents accessed by Propstack.com

Also Read: Amitabh Bachchan rents out commercial space for annual rental of 2.07 cr

Along with Bachchan, Kartik Aryan, Manoj Bajpayee and Sarah Ali Khan also have purchased office spaces in Mumbai. Commercial real estate assets yield higher rental income than residential properties

Also Read: From Imran Khan to Katrina Kaif, why some Bollywood stars prefer to stay on rent rather than buy an apartment in Mumbai

 

Catch every big hit, every wicket with Crickit, a one stop destination for Live Scores, Match Stats, Infographics & much more. Explore now!

See more

Get Current Updates on India News, Elections 2024, Lok sabha election 2024 voting live , Karnataka election 2024 live in Bengaluru , Election 2024 Date along with Latest News and Top Headlines from India and around the world.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, July 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On