In a significant real estate transaction, acclaimed Bollywood actor Kajol Devgan has leased a prime retail unit in Mumbai's Goregaon area to HDFC Bank for a substantial sum. The deal, finalized through a formal lease agreement, highlights the continuing strength of Mumbai's commercial property market, particularly in emerging hubs like Goregaon.
Property and Financial Details
According to official property registration documents, the retail space is located within the Bharat Arize complex in Goregaon. Kajol had initially acquired this property in March 2025 for ₹28.78 crore. The leased area encompasses a carpet area of 1,817 square feet and includes one dedicated parking slot.
The lease agreement was officially registered on November 14, 2025. The financial aspects of the registration involved a stamp duty payment of ₹5.61 lakh and registration fees of ₹30,000. Furthermore, as part of the standard security arrangement, the agreement stipulates a security deposit of ₹27.61 lakh.
Lease Structure and Rent Projections
The nine-year lease term commences in November 2025. The rental structure is designed with periodic increments to account for market appreciation. For the initial three-year period, the monthly rent is fixed at ₹6.9 lakh.
Subsequently, the rent will see a 15% increase every three years. This escalates the monthly payment to ₹7.9 lakh for the following three years (years 4-6). For the final leg of the lease term (years 7-9), the rent will rise to ₹9.13 lakh per month. When calculated over the entire nine-year duration, the total rental income for Kajol amounts to ₹8.6 crore.
Context and Market Significance
This transaction places a spotlight on the Devgan family's active involvement in the Mumbai real estate market. Earlier in the year, Kajol's husband, fellow Bollywood superstar Ajay Devgn, leased an office unit in Andheri West for ₹5.47 lakh per month. In a separate 2024 deal, he also rented out a larger 3,455 sq. ft. commercial office space in Andheri for ₹7 lakh monthly.
The deal also underscores the rising prominence of Goregaon West as a fast-growing real estate hub. Real estate analysts point to the area's excellent connectivity via the Western Express Highway, Link Road, SV Road, the suburban railway, and expanding metro lines as key growth drivers. Its proximity to established business and entertainment centers like Andheri, Malad, and the Oshiwara District Centre further enhances its appeal for commercial investments.
Kajol Devgan, a Padma Shri awardee and multiple Filmfare Award winner, is one of Indian cinema's most celebrated actors. With a career spanning over three decades, she is renowned for her iconic performances in blockbuster films such as Dilwale Dulhania Le Jayenge, Kuch Kuch Hota Hai, Fanaa, and My Name Is Khan.
