Bollywood star Ajay Devgn has recently made headlines with a significant real estate transaction involving his commercial office space in Mumbai’s Andheri area. Devgn has leased this prime property to Kabir Khan Entertainment, a production house led by filmmaker Kabir Khan, at a substantial monthly rent of ₹7 lakh. This deal, which was finalized in September, highlights not only Devgn’s savvy investment decisions but also underscores the high demand for premium commercial spaces in Mumbai. Also Read- Yash’s Upcoming Film ‘Toxic’ Begins Shooting in Bengaluru With a 1000-member Crew! Is the Set Elaborately Recreated to Accurately Reflect the 1940s to 1970s Era? Here’s What We Know!
The leased office space is situated within Signature Tower, a notable development by Lotus Developers. Signature Tower is strategically located along Veera Desai Road in Oshiwara, a prominent area in Mumbai’s Western Suburbs. Known for its excellent connectivity, Oshiwara has become a coveted destination for businesses due to its proximity to major highways, metro stations, and the international airport. This connectivity, combined with the vibrant local atmosphere that includes a mix of retail outlets, dining options, and entertainment venues, makes it an attractive locale for commercial operations.
Signature Tower itself is renowned for its modern amenities and high-quality construction, which are key attractions for businesses seeking a well-equipped and professionally managed office environment. The property spans a generous 3,455 square feet, providing ample space for Kabir Khan Entertainment’s operations. In addition to the spacious interiors, the lease includes three dedicated car parking spaces, a significant advantage in a city like Mumbai where parking can be a challenging issue.
The lease agreement reflects a long-term commitment, with a duration of 60 months, and a security deposit of ₹30 lakh. This long-term lease arrangement indicates Kabir Khan Entertainment’s strategic decision to establish a stable and permanent base in this prime location. The agreement also required a stamp duty payment of ₹1.12 lakh, a standard requirement for such significant transactions.
Ajay Devgn and his wife Kajol have a notable presence in the real estate market, owning multiple properties within the Signature Tower project. This investment underscores their growing interest in commercial real estate, a trend that is becoming increasingly popular among Bollywood celebrities. By diversifying their portfolios to include premium office spaces, they are aligning with a broader trend of celebrities investing in high-value real estate assets. Also Read- Could Gangs of Wasseypur Be Getting a Re-Release? Jaideep Ahlawat Looks Back on His Early Breakthrough in Indian Cinema! Read Now to Get Full Details!
Signature Tower’s appeal to high-profile investors is a testament to its status as a premier business destination. The development’s strategic location and top-notch facilities make it a sought-after choice for businesses looking to establish themselves in Mumbai’s bustling commercial landscape. The inclusion of such high-profile tenants as Kabir Khan Entertainment adds to the building’s prestige and reinforces its reputation as a top choice for business ventures in the city.
This transaction not only highlights Ajay Devgn’s keen eye for lucrative investment opportunities but also reflects the ongoing demand for quality commercial properties in prime locations. The deal is a clear indicator of the robust real estate market in Mumbai, particularly in areas that offer excellent connectivity and modern amenities. As Mumbai continues to thrive as a business hub, the demand for well-located and well-appointed office spaces remains strong, making Signature Tower and similar developments highly attractive to investors and businesses alike.
