Bollywood actor and producer Ajay Devgn has renewed a lease agreement for two commercial units in Mumbai’s Andheri area, spanning 1,500 square feet, at a monthly rent of ₹4.16 lakh. According to property registration documents accessed by Propstack, the lease has been extended for five years, from December 2023 to December 2028. The original lease with Saraswat Co-operative Bank Limited was signed in 2018, and the current renewal maintains the terms for the first three years, with the rent increasing to ₹4.57 lakh in the subsequent two years. A security deposit of ₹12.72 lakh was also made for the transaction.

The commercial units are located on the ground floor of Shlok House in Andheri West, a prime commercial real estate area. Devgn’s renewed lease adds to his growing real estate portfolio in Mumbai.

Ajay Devgn’s Expanding Real Estate Investments

Ajay Devgn has been active in the commercial real estate market in Mumbai. Earlier this month, he leased out a 3,455-square-foot office space in Signature Tower on Veera Desai Road, Andheri West, for ₹7 lakh per month. The deal also includes parking space for three cars. Devgn purchased five units in this building in April 2023 for ₹45.09 crore, reflecting his ongoing investment strategy in Mumbai’s commercial properties.

Bollywood Celebrities and Commercial Real Estate

Devgn isn’t the only Bollywood star investing in Mumbai’s commercial real estate market. Prominent figures like Amitabh Bachchan, Sara Ali Khan, Kartik Aaryan, and Manoj Bajpayee have also made headlines for purchasing or leasing commercial properties. Amitabh Bachchan recently added three office units to his portfolio in Signature Tower, spanning 8,429 square feet, for nearly ₹60 crore.

Bollywood stars’ investments in commercial properties offer substantial rental yields. According to CBRE India, commercial assets like offices, retail spaces, and warehouses in metro cities yield 6-10% returns. Grade-A office spaces in Mumbai typically offer 6-8% yields, with retail assets reaching up to 9.5% in prime locations.

Why Bollywood Stars Choose Commercial Real Estate

Bollywood celebrities often diversify their investments, with commercial real estate being an attractive option due to its high rental yields and long-term value. In metro cities like Mumbai, commercial spaces provide steady returns, making them a lucrative option for long-term investments. With the city’s growing demand for Grade-A office spaces, stars like Ajay Devgn and Amitabh Bachchan are capitalising on the opportunity to generate stable income from their real estate holdings.

As Mumbai’s commercial real estate market continues to thrive, investments in high-end properties offer financial security and significant rental returns, positioning it as a prime asset class for investors looking for steady growth.