Bollywood actor Ajay Devgn has leased out his commercial office space in Mumbai’s bustling Andheri area for a monthly rent of Rs. 7 lakh, as per a transaction reviewed by Square Yards. The ‘Leave and License’ agreement, formalized this September, incurred a stamp duty of Rs 1.12 lakh.
Devgn’s office is situated in Signature Tower, and is developed by Lotus Developers.
The project is located along the Veera Desai Road in Oshiwara, one of a prime location in Mumbai’s Western Suburbs. It offers access to major highways, metro station, and is just a short distance from the international airport, making it a highly sought-after area for businesses looking for well-connected office spaces. The locality’s vibrant mix of retail, dining, and entertainment options further elevates its status as a business hub.
Fund manager Blackrock Services India has leased 42,700 sq ft of office space in Mumbai’s posh Worli for a monthly rent of Rs 300 per sq ft, documents accessed by data analytical firm Propstack showed.
The 5-year lease that commenced August 1, 2024, will have a monthly rent of Rs 1.1 crore for the first eight months and Rs 1.28 crore for the next four months. Additionally, the rent will increase by 10 percent in April 2026, five percent in 2027, and another five percent in 2028.
The lock-in period for the transaction is 36 months, and the company paid a security deposit of Rs 12.8 crore.
The office space is located on the 13th floor of the office tower Altimus developed by realty developer K Raheja Corp’s subsidiary Whispering Heights Real Estate.
Adding to the flurry of real estate deals among Bollywood celebrities, director Sajid Khan recently sold his apartment for Rs. 6.1 crore, according to the transaction reviewed by Square Yards. Khan’s property was located in the Beach House Co-operative Housing Society, in Mumbai’s Juhu area.
According to proptech platform Square Yards, the apartment boasts a spacious built-up area of 2,176 sq. ft. (202 sq. m.) and comes with a dedicated car parking space of 220 sq. ft. (~20 sq. m.). The transaction which was registered in June this year, incurred a stamp duty of Rs 36.6 lakh and a registration fee of Rs 30,000.
Bollywood actor Kartik Aaryan in August 2024 rented an apartment in Mumbai’s Juhu for Rs 4.5 lakh per month, according to property registration documents accessed by Square Yards. The 1,912 square ft property is located in Siddhi Vinayak Building in Juhu. The lease and license agreement was registered on August 28 with a stamp duty of Rs 42,500, the documents showed.
In July, celebrated poet, scriptwriter, and lyricist, Javed Akhtar bought a luxurious apartment in Juhu. The ready-to-move-in apartment, spanning approximately 111.43 square meters, was purchased for a staggering Rs 7.76 crore, as per documents accessed by Square Yards. The transaction also involved a stamp duty of Rs 46.02 lakh and a registration fee of Rs 30,000.
In August, Kangana Ranaut, a BJP MP and Bollywood actor, bought an office space in Mumbai’s Andheri area for Rs 1.56 crore, according to property registration documents accessed by Propstack.The property spread across 407 sq ft is located on the 19th floor of a building named Arch One and was purchased at a per sq ft rate of Rs 38,391 sq ft on carpet.
First Published: Sep 04 2024 | 9:21 AM IST
