Ajay Devgn Expands Real Estate Footprint with New Andheri Office Lease

Bollywood actor Ajay Devgn has got into a long-term lease agreement for a commercial property in Mumbai’s Andheri West, generating over Rs. 3 crore in rental income across five years. As per official property registration documents reviewed by Square Yards, it leased a premium office unit to Bombay Design Centre Private Limited from May 2025 through April 2030.

The leased space is part of the "Signature by Lotus" commercial complex, presenting a carpeted area of 2,545 sq. ft. The lease was formalized on May 2, 2025, with a stamp duty payment of Rs. 85,500 with registration fees of Rs. 1,000. A security deposit of Rs. 16.42 lakh was also paid as part of the agreement.  

Under the terms of the lease, the monthly rent starts at Rs. 5.47 lakh and will increase to Rs. 6.29 lakh after three years. This deal reveals a rental yield of nearly 6.5 percent for the preliminary phase, rising to around 7.5 percent during the final part of the lease, according to analysis by Square Yards.

Devgn initially developed three end-to-end office units in the same building in April 2023, each spanning around 2,545 sq. ft., for a total consideration of Rs. 30.35 crore and that to nearly cost around Rs. 10.12 crore per unit. The current lease belongs to one of these units.

In total, Ajay Devgn has invested Rs. 45.9 crore in five commercial office units in the Signature building on Veera Desai Road. Mutually, these units cover over 13,000 sq. ft. across the 16th and 17th floors and include 14 designated parking spaces.