Actor Ajay Devgn and his mother Veena Devgn are set to earn an estimated Rs 10.61 crore in rental income after leasing out their bungalow in Mumbai’s Juhu for five years, according to property registration documents reviewed by Square Yards.
The property, located in Kapol CHS, has a built-up area of 7,803 sq ft. The leave and licence agreement was registered in August 2026 for 60 months.
Under the agreement, the monthly rent has been fixed at Rs 16 lakh during the first year, with a 5% annual escalation. The monthly rent is expected to reach around Rs 19.45 lakh by the fifth year.
The agreement includes a security deposit of Rs 48 lakh, while the stamp duty is Rs 2.71 lakh and registration charges are Rs 1,000.
Juhu property prices remain high
The lease comes as Juhu continues to remain among Mumbai’s high-value residential markets. Square Yards data shows the average asking price in Juhu is around Rs 45,000 per sq ft.
In the Juhu Road micromarket, property prices increased from Rs 33,100 per sq ft in September 2025 to Rs 35,900 per sq ft in June 2026, indicating continued price growth.
For comparison, Mumbai’s average asking price stood at around Rs 38,600 per sq ft in August 2026, according to the data.
Apartment prices show mixed movement
Apartments in the Juhu Road area are priced at around Rs 45,400 per sq ft. Ready-to-move properties average Rs 38,050 per sq ft, while under-construction projects are priced at approximately Rs 46,550 per sq ft.
Square Yards data indicates that properties in the Rs 2 crore-Rs 5 crore range account for a significant share of demand and listings in the locality.
Juhu’s location along Mumbai’s western coastline, proximity to commercial areas and established residential infrastructure continue to support property values and rental demand in the neighbourhood.
Source: The Economic Times
