Bollywood actor, director, and producer Ajay Devgn has renewed the lease agreement for two commercial units located in the bustling Andheri area of Mumbai. According to property registration documents accessed by Proptstack, Devgn leased these units to Saraswat Co-operative Bank Limited, extending the agreement for another five years.
The commercial spaces, spanning a total of 1,500 sq. ft. on the ground floor of Shlok House in Andheri West, were first leased to Saraswat Bank in December 2018. The original lease, set for a period of five years, was slated to expire in December 2023. The lease has now been renewed, and the new term will extend from December 2023 to December 2028.
The monthly rent for the first three years of the renewed lease has been set at ₹4.16 lakh. After this period, the rent will increase to ₹4.57 lakh for the remaining two years of the agreement. Additionally, Saraswat Bank paid a security deposit of ₹12.72 lakh, according to the documents. The lease transaction was officially registered on August 9, 2024, with a stamp duty payment of ₹78,500 and a registration fee of ₹1,000.
Ajay Devgn has been increasingly active in Mumbai's commercial real estate market. Earlier this month, the actor made headlines for leasing a 3,455 sq. ft. commercial office space in Mumbai for a monthly rent of ₹7 lakh. This office, located in the prestigious Signature Tower on Veera Desai Road in Andheri West, comes with parking space for three cars.
In addition to this recent lease, Devgn had acquired a total of five commercial units in the same Signature Tower in April 2023, purchasing them for a combined total of ₹45.09 crore. The acquisition highlights his growing interest in real estate investments, positioning him as a notable player in Mumbai’s prime commercial property market.
While both Ajay Devgn and Saraswat Bank have refrained from commenting on the renewed lease, the documents make it clear that the actor’s commercial property holdings continue to expand, reflecting the lucrative opportunities in Mumbai's ever-growing real estate sector.
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