Ajay Devgn buys office properties in Mumbai’s Andheri for over Rs 45 crore

July 3, 2023

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Bollywood actor, producer and director Ajay Devgn has purchased five office properties in two separate transactions for over Rs 45 crore in the Oshiwara locality of Mumbai’s western suburb Andheri.

All five properties are spread over 13,293 sq ft across two floors in an under-construction commercial project Signature of realty developer Veer Savarkar Projects.

Three of these offices are on the 16th floor with a built-up area of 8,404 square feet, while the other two properties spread over 4,893 sq ft are on the 17th floor of the commercial tower.

In addition to the office space, the buyer will get exclusive access to a total of 14 car parking slots in the building.

Devgn has paid a total stamp duty of more than Rs 2.7 crore for both the transactions that were finalized and concluded in April. The deals were registered on April 18th and 19th, showed the documents accessed through CRE Matrix.

ET’s separate email queries to Devgn’s company Ajay Devgn Ffilms and developer Veer Savarkar Projects remained unanswered.

Real estate has remained one of the most preferred investments for high networth individuals. Bollywood personalities have also been picking up properties not only for self-use but also as an investment.

Several Bollywood actors, producers and directors including Amitabh Bachchan, Shahrukh Khan, Shilpa Shetty, Akshay Kumar, Abhishek Bachchan, and Aishwarya Rai have invested in properties. Many deals of high-end luxury properties of Ranveer Singh, Hrithik Roshan, Rani Mukherjee, Alia Bhat, Disha Patani, and Janhvi Kapoor have been reported in the last few quarters.

Late 2020, Devgn himself had acquired a bungalow spread over 5,100 sq ft in Mumbai’s plush Juhu area for Rs 47.5 crore for which he had also availed a loan of Rs 18.75 crore.

Mumbai, the country’s biggest and most expensive property market, has seen sustained robust momentum of real estate sales despite rising mortgage rates and property prices as consumer sentiment toward home buying remains strong.

  • Published On Jul 3, 2023 at 07:05 PM IST

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