Ajay Devgn Leases ₹33 Crore Office In Mumbai For 5 Years, Earns 6.5% Rental Yield; Includes 18 parking Spots.
Ajay Devgn Leases ₹33 Crore Office In Mumbai For 5 Years, Earns 6.5% Rental Yield; Includes 18 parking Spots.
Bollywood actor Ajay Devgn has leased a commercial office space in Mumbai's Andheri West for ₹33.02 crore over a five-year term. According to documents accessed by CRE Matrix, the property spans 13,293 square feet and is located in the Signature Building, Oshiwara. The deal was registered on April 29, 2024.
The office has been leased to a company named Pantheon Infrastructure, with a monthly rent starting at ₹54.21 lakh. Over the five-year lease, the rent will escalate, ensuring a 6.5% rental yield for the property. The lease includes 18 car parking spaces, enhancing the convenience for business operations.
Ajay Devgn’s real estate investments have consistently made headlines. He had previously purchased five office units in the same complex in 2023, covering a total area of around 13,293 square feet. His continued investment in commercial real estate in the Andheri area signals a long-term interest in the city’s prime business hubs.
The transaction has garnered attention in both real estate and Bollywood circles. According to the documents, the lease agreement ensures incremental rent increases every year, a common practice in commercial leasing. Devgn's move reflects a growing trend among Bollywood celebrities diversifying their portfolios into high-return commercial assets.
This lease deal reaffirms Devgn's strategic approach to real estate investments, leveraging Mumbai’s thriving commercial property market. "The commercial real estate market in Andheri West continues to attract high-profile investors due to its connectivity and infrastructure," said a source familiar with the deal.
With rising demand for premium office spaces in Mumbai, such transactions demonstrate confidence in long-term rental returns and capital appreciation in commercial assets.
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